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Seven public sector banks fined over violation of RBI's guidelines

Banks fined on July 31 were Allahabad Bank, Bank of Maharashtra, Bank of Baroda, Bank of India, Indian Overseas Bank, Union Bank of India, and Oriental Bank of Commerce

Anup Roy 

Seven public sector banks fined over violation of RBI’s guidelines

The fined seven public sector for non-compliance with various RBI’s guidelines, including for opening current accounts, fraud detection, and Corporation Bank for violation of cyber security norms. fined on July 31 were Allahabad Bank, Bank of Maharashtra, Bank of Baroda, Bank of India, Indian Overseas Bank, Union Bank of India, and Oriental Bank of Commerce. The first two were fined Rs 2 crore each, and OBC was fined Rs 1 crore.

First Published: Sat, August 03 2019. 03:19 IST
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