In all cases, the penalties were imposed for deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the entities with their customers, the RBI said.
The penalty on Bank of India has been imposed for non-compliance with the RBI's directions related to 'interest rate on deposits', 'customer service in banks', 'interest rate on advances', and contravention of provisions of Credit lnformation Companies Rules, 2006.
RBI imposes ₹1 40 cr monetary penalty on Bank of India - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
The Ministry of Corporate Affairs (MCA) vide circular dated October 27, 2023, has introduced certain amendments to the Companies (Prospectus and Allotment of Securities) Rules, 2014.
Forms of Business Organization Class 11 Notes: Get here CBSE Class 11 Business Studies Full and Short Notes of Chapter 2 for upcoming Board exam revision.