The Reserve Bank of India (RBI) has imposed a fine of ₹84.5 lakh on the Central Bank of India for violating fraud norms. This penalty comes as a result of the bank’s failure to comply with the guidelines and protocols set by the RBI to prevent fraudulent activities.
The strict action by the RBI underscores its commitment to maintaining the integrity and security of the banking system. It serves as a reminder to financial institutions to uphold the highest standards of transparency and accountability.
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