Wednesday, May 18, 2022
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RBI imposed a fine of lakhs on the Central Bank, check quickly whether you have an account

RBI Penalty on Banks: The Reserve Bank of India (RBI) has imposed a fine of lakhs on the Central Bank. If you also have an account in this bank, then know why and how much fine has been imposed on the bank. Explain that the RBI has imposed a fine of Rs 36 lakh on the public sector Central Bank of India for violation of rules related to protection of the interests of customers.

RBI issued statement
RBI said in a statement, “This action has been taken on the basis of lack of regulatory compliance on the bank.” Action has been taken on the basis of the reply received from the bank.

36 lakh fine
In this order dated April 18, 2022, the Reserve Bank imposed a fine of Rs 36 lakh on the Central Bank for violating the provisions related to protection of interests of customers.

RBI has already imposed penalty on many banks
Let us tell you that even before this, the Reserve Bank has imposed a penalty on some banks. Phaltan-based Yeshwant Cooperative Bank Ltd. has been fined Rs 2 lakh for non-compliance with its directions on income, asset classification, provisioning and other related issues.

2 lakh fine imposed on this bank
Apart from this, in another statement, the central bank has imposed a fine of Rs 2 lakh on Mumbai’s Cocan Mercantile Cooperative Bank Ltd. in a similar case.

Kolkata’s bank also fined
In another regulatory notice, the RBI said that it has imposed a fine of Rs 1 lakh on Kolkata-based Samata Cooperative Development Bank Ltd.

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