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Inside RBI's plan to avert PMC Bank-like embarrassments

New policy measures were announced on Thursday to strengthen the regulatory framework at the UCBs.

Bihar

Dec 06, 2019, 06.59 PM IST

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RBI slaps Rs 2.50 cr fine on BoB for violating directions on Bihar NGO

"The Reserve Bank of India in exercise of powers conferred under the Banking Regulation Act, 1949, has imposed a penalty aggregating to Rs 2.50 crore on the bank for non-compliance with the directions issued by the RBI in various accounts of Srijan Mahila Vikas Sahyog Samiti Ltd at Bhagalpur Branch," Bank of Baroda said in a regulatory filing.

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