Current Affairs   »   RBI Imposes Rs 1.50 crore penalty...

RBI Imposes Rs 1.50 crore penalty on Corporation Bank

RBI Imposes Rs 1.50 crore penalty on Corporation Bank_50.1

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 1.50 crore on Corporation Bank for non-compliance with certain provisions of directions issued by RBI. The penalty has been imposed in the exercise of powers vested in the RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and 51 (1) of the Banking Regulation Act, 1949. This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Important Takeaways for IBPS Clerk Mains and IBPS SO Prelims:

  • PV Bharathi is Chief Executive Officer of Corporation Bank.
  • Corporation Bank headquartered in Mangalore.

Source- The Hindu Business Line 

Read This In Hindi

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *