Question
What is the monetary penalty imposed by the Reserve Bank
of India on Canara Bank for non-compliance with certain directions issued on 'Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures'?Solution
The Reserve Bank of India (RBI) has, by an order dated February 06, 2024 imposed a monetary penalty of ₹32.30 lakh (Rupees Thirty two lakh thirty thousand only) on Canara Bank (the bank) for non-compliance with certain directions issued by RBI on ‘Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures’
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