RBI imposes penalty of Rs 2 crore on Allahabad Bank
Reserve Bank of India (RBI) has imposed a penalty of Rs 2 crore on Allahabad Bank for non-compliance of directions / circulars issued by RBI on ‘Code of Conduct for Opening and Operating Current Accounts’, ‘Discounting / Rediscounting of Bills by Banks’, ‘Reserve Bank of India (Frauds classification and reporting by commercial Banks and select FIs) directions 2016’ in the matter pertaining to Rotomac Group Companies.
Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.