Question
What was the penalty amount imposed by the Reserve Bank
of India (RBI) on Bank of Baroda (BOB) for a shortfall in soiled note remittances?Solution
In December 22, 2023, BOB had revealed that the Reserve Bank had fined the lender ₹5 crore. State-owned lender Bank of Baroda (BOB) said the Reserve Bank of India (RBI) has decided to waive the ₹5 crore penalty that was previously imposed on it due to a shortfall in soiled note remittances.
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