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RBI slaps penalties totalling Rs 10.34 cr on Citibank, BoB, IOB

Mumbai, November 24

The RBI on Friday imposed penalties totalling Rs 10.34 crore on Citibank, Bank of Baroda, and Indian Overseas Bank for contravention of various regulatory norms.

The highest fine of Rs 5 crore has been imposed on Citibank NA for non-compliance of norms. A fine of Rs 4.34 core was imposed on the Bank of Baroda and Rs 1 crore on Chennai-based Indian Overseas Bank for violation of certain directions, the RBI said.

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