Different types of guidelines have been released by Reserve Bank of India for the operation of banks and financial institutions. All institutions are expected to follow all the rules. But despite all the warnings, many times information is found about violation of rules.
Penalty imposed on CITI Bank and IDBI Bank
Let us tell you that it has been said by the officials that many penalty has been imposed on banks during the recent investigation campaign. On Friday, RBI has imposed a penalty of Rs 36.28 lakh on Citib Bank. The bank has been accused of disturbances in transaction reporting under the Liverlisted Remittance Scheme.
Apart from this, a penalty of Rs 36.30 lakh has also been imposed on IDBI Bank. The bank is also accused of violation of rules related to transaction. RBI officials are investigated from time to time so that no rules are violated.
