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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. ....
The Reserve Bank of India (RBI) has stated in its monthly bulletin that the Indian economy is sustaining the momentum achieved in the first half of the current financial year. RBI Governor Shaktikanta Das noted that the investment cycle in India is gaining steam, driven by sustained government capex, rising capacity utilisation, increased flow of resources to the commercial sector, and policy support from schemes like the production-linked incentive (PLI scheme). ....