The RBI said its decision was based on significant concerns arising out of its IT examination of the bank for 2022 and 2023, and the bank’s continued failure to address these concerns in a comprehensive and timely manner.
The board has recommended a final dividend of Rs 24 for the financial year ended March 2024 on equity shares of Re one each. It had earlier paid an interim dividend of Rs 18 per share.
In an order last week, the Department of Personnel and Training assigned additional charge of MoSPI Secretary to Garg, who currently holds the charge of Secretary, Department of Social Justice & Empowerment.