News > RBI imposes Rs 1.45 crore fine on Central Bank of India for non-compliance

RBI imposes Rs 1.45 crore fine on Central Bank of India for non-compliance

The Central Bank of India (CBI) failed to comply with certain directives concerning 'loans and advances' and 'customer protection' following a statutory inspection for Supervisory Evaluation (ISE 2022) referencing CBI's financial position as of March 31, 2022. The RBI requested an explanation as to why a penalty should not be imposed for the non-compliance. After reviewing the bank's response, RBI determined that the charges were substantiated.