Bank of Baroda has informed that Reserve Bank of India (RBI), in exercise of the powers conferred under Section 47A(1)(c) read with Section 46(4)(i) and 51(1) of the Banking Regulation Act, 1949, has imposed an aggregate penalty of Rs 4.34 crore on Bank of Baroda, for non-compliance with certain directions issued by RBI on (i) Reported incorrect data on large exposure to CRILC (ii) Loans and Advances- Statutory and Other Restrictions and (iii) Interest paid on term deposits not as per the schedule of interest rates.
The above information is a part of company’s filings submitted to BSE.
