MUMBAI, India, July 3 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated June 30, 2026, imposed a monetary penalty of ₹63.60 lakh (Rupees Sixty three lakh sixty thousand only) on Bank of Baroda (the bank) for non-compliance with certain provisions of directions issued by RBI on 'Fair Practices Code for Lenders' and 'Know Your Customer (KYC)'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.
The statutory Inspection for Supervisory Evaluation (ISE 2025) of the bank was conducted by RBI with reference to its financial position as on Mar...