Money & Banking

RBI slaps ₹1.5-cr penalty on Bank of India

Our Bureau Mumbai | Updated on August 01, 2019

Bank of India (BoI), on Thursday, said the Reserve Bank of India has asked it to pay a penalty of ₹1.5 crore on account of ‘non-compliance with RBI’s direction on frauds’ in Rotomac Group companies. In a stock exchange notice, BoI said the penalty is required to be paid within 14 days of receipt of RBI’s order, which was received via email dated August 1.

Published on August 01, 2019

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