The central bank of India ,RBI has imposed a fine of 3.5 cr on three Public sector banks of India.Under the act Banking regulation 1949 RBI has the authority to give licence to every bank and fine any bank for violating the banking norms . A penalty of Rs 1.5 crore has been imposed on Oriental Bank of Commerce (OBC) and Rs 1 crore each on Punjab National Bank (PNB) and Bank of India.
Bank of India:Mumbai
Oriental bank of Commerce : Delhi
Punjab National Bank :DelhiRead More : https://www.business-standard.com/article/pti-stories/rbi-imposes-rs-3-5-cr-penalty-on-3-psu-banks-119021401032_1.html
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