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RBI puts Rs 1.45 cr fine on Central Bank of India for non-compliance order

The Reserve Bank on Friday said it has imposed a penalty of Rs 1.45 crore on the Central Bank of India for non-compliance with certain directions related to 'loans and advances' and 'customer protection'. The RBI had conducted a statutory inspection for Supervisory Evaluation (ISE 2022) of the Central Bank of India with reference to its financial position as of March 31, 2022. A notice was issued to the bank, advising it to show cause as to why a penalty should not be imposed on it for its failure to comply with the directions, the RBI said. After considering the bank's response, the RBI found that charges against the bank were sustained. The bank sanctioned a working capital demand loan to a Corporation against amounts receivable from the government by way of subsidies. It also failed to credit (shadow reversal) the amount involved in a few instances of unauthorised electronic transactions to the customer's account within the stipulated time. In another release, the RBI said a .

RBI puts Rs 1.45 cr fine on Central Bank of India for non-compliance order
Updated On : 14 Jun 2024 | 7:07 PM IST

Nifty PSU Bank index zooms 9%; SBI, Central Bank, BOB rally up to 12%

India's banking system continues to ride the good economic growth momentum, well supported by recent structural improvements in the system.

Nifty PSU Bank index zooms 9%; SBI, Central Bank, BOB rally up to 12%
Updated On : 03 Jun 2024 | 1:33 PM IST

PSBs extend rally on RBI's bonanza to central Govt; IOB, PSB rally upto 10%

PSU bank stocks news: The Indian banking industry has been on an upward trajectory aided by strong economic growth, rising disposable incomes, increasing consumerism and easier access to credit

PSBs extend rally on RBI's bonanza to central Govt; IOB, PSB rally upto 10%
Updated On : 27 May 2024 | 2:48 PM IST

Central Bank of India Q4FY24 results: Profit jumps 41% at 807.34 crore

Central Bank of India standalone Q4FY24 results: Gross non-performing assets (NPA) ratio of the bank remained consistent at 4.50%, same as the last quarter

Central Bank of India Q4FY24 results: Profit jumps 41% at 807.34 crore
Updated On : 30 Apr 2024 | 2:44 PM IST