RBI imposes penalties on ICICI Bank, Bank of Baroda, 2 other lenders
The Reserve Bank of India (RBI) has levied penalties on ICICI Bank, Bank of Baroda, IDBI Bank, and Bank of Maharashtra for regulatory compliance deficiencies. ICICI Bank faces a Rs 97.80 lakh penalty for KYC, cybersecurity, and credit card-related non-compliance. Bank of Baroda is penalized Rs 61.40 lakh for shortcomings in financial and customer services.
The Reserve Bank of India (RBI) has levied penalties on ICICI Bank, Bank of Baroda, IDBI Bank, and Bank of Maharashtra for regulatory compliance deficiencies. ICICI Bank faces a Rs 97.80 lakh penalty for KYC, cybersecurity, and credit card-related non-compliance. Bank of Baroda is penalized Rs 61.40 lakh for shortcomings in financial and customer services.
