MoneyWorks4Me

RBI imposes penalty of Rs 20 million on Bank of Maharashtra

06 Mar 2019 Evaluate

The Reserve Bank of India (RBI) has imposed a penalty of Rs 20 million on Bank of Maharashtra for non-compliance with the directions issued on February 20, 2018 in respect to Time-bound implementation and strengthening of SWIFT-related operational controls.

Bank has taken necessary preventive measures / comprehensive actions to avoid such recurrence in future.

Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The Bank also offers services to agricultural and SME sectors.

Peers
Company Name CMP
State Bank Of India 950.30
PNB 113.90
Bank Of Baroda 234.90
Canara Bank 118.90
Union Bank Of India 173.05
View more..