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RBI slaps penalty of Rs 5 crore on Bank of India

29 May 2020 Evaluate
The Reserve Bank of India (RBI) has slapped a monetary penalty of Rs 5 crore on Bank of India (BoI) for non-compliance with certain provisions of the directions issued by RBI on Income Recognition, Asset Classification and Provisioning pertaining to Advances - Divergence in NPA accounts, Opening of current accounts by banks - Need for discipline, and Classification and reporting of frauds.

Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.

Peers
Company Name CMP
State Bank Of India 969.55
PNB 120.35
Bank Of Baroda 243.50
Canara Bank 117.60
Union Bank Of India 183.00
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