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The Economic Times

Business

RBI imposes Rs 66.7 lakh penalty on Bank of Baroda, GIC Housing Finance

RBI Bank of Baroda Reserve Bank of India

Mumbai, The Reserve Bank of India on Friday said it has imposed a penalty of Rs 63.6 lakh on Bank of Baroda for non-compliance with certain provisions of the 'Fair Practices Code for Lenders' and 'Know Your Customer (KYC)' norms.

A penalty of Rs 3.1 lakh has also been imposed on GIC Housing Finance Ltd for non-compliance with certain provisions of the KYC guidelines.

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