Category: RBI

Jun 2

RBI imposes Rs 2.2-crore penalty on Indian Overseas Bank 

Reserve Bank on Friday imposed a penalty of Rs 2.20 crore on state-owned Indian Overseas Bank (IOB) for non-compliance of income recognition and other deficiencies in regulatory compliance. The fine is imposed for contravention of the provisions of certain directions issued by RBI on ‘Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to […]