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The RBI has imposed a penalty aggregating ₹2.50 crore on Bank of Baroda for non-compliance with the directions issued by it in various accounts of Srijan Mahila Vikas Sahyog Samiti at the Bhagalpur Branch.
“We advise that the RBI, in exercise of powers conferred under...the Banking Regulation Act, 1949, has imposed a penalty...on the bank for non-compliance with the directions issued by the RBI in various accounts of Srijan Mahila Vikas Sahyog Samiti at the Bhagalpur Branch,” the bank said in a stock exchange filing.
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