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RBI penalises Allahabad Bank, Corporation Bank

IANS  |  Mumbai 

The (RBI) has imposed separate monetary penalties on lenders Bank and over deficiencies in complying with various regulatory norms.

In a regulatory filing to the BSE on Friday, the Bank said that the RBI has imposed a penalty of Rs 1.5 crore "for not monitoring the end use of funds, delay in classification and reporting of fraud and non-adherence with RBI guidelines during restructuring of accounts in respect of one of its borrowers".

The in a similar regulatory filing said the RBI has imposed a penalty of Rs 2 crore on the "due to some lapses in monitoring of end use of funds and exchange of information with other banks in respect of one borrower along with some other banks".

--IANS

rv/nir

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 08 2019. 23:34 IST
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