The Securities and Exchange Board of India (SEBI) in exercise of power has imposed penalty aggregating to Rs 10 lakh on Bank of Baroda for non-compliance of directions issued in case of holding, more than prescribed limit, equity shares of UTI AMC and UTI Trustee Company. Whole time member of the SEBI had earlier directed the bank to comply with the guidelines on or before December 31, 2020.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
