RBI imposes penalty of Rs 1.5 cr on Bank of India

The Reserve Bank of India has imposed a penalty of Rs 1.5 crore on Bank of India on account of 'Non-compliance with RBI's direction on Frauds' in Rotomac Group companies.

The aforesaid penalty is required to be paid within 14 days of receipt of their order. #casansaar (Soruce - Business Stanard)