The Reserve Bank of India (RBI) has penalized five banks, including Punjab National Bank (PNB), in the first week of July for non-compliance with various RBI directions.
Mumbai (Maharashtra) [India], June 24 (ANI): The Reserve Bank of India (RBI) said on Friday it has imposed a monetary penalty of Rs 57.50 lakh on Indian Overseas Bank for non-compliance with certain directions of the central bank.