Bank
RBI imposes monetary penalty on Bank of India
The Reserve Bank of India has imposed a monetary penalty of Rs. 1,00,000/- (Rupees One Lakh Only) on state-owned Bank of India. The violations cited are noted as Shortage of notes detected in soiled note remittance of Chandrapur currency chest.
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New Delhi: The Reserve Bank of India has imposed a monetary penalty of Rs. 1,00,000/- (Rupees One Lakh Only) on state-owned Bank of India. The violations cited are noted as Shortage of notes detected in soiled note remittance of Chandrapur currency chest.
However, the monetary penalty imposed by RBI has no material impact on the financial operation or other activities of the Bank.
Shares of Bank of India are trading down by 0.61% at Rs 147.68 at BSE.