An examination of the Risk Assessment Report to the Reserve Bank of India (RBI) revealed that the bank did not adhere to the proper norms in these cases. RBI found that the bank did not report the fraud to it in time and the fraudulent assets were sold.
New Delhi. Regulations and appropriate norms of violations to the Bank of India (Bank of India) on the Reserve Bank of India (RBI) has 4 million bucks in fines imposed is. After the imposition of penalties by the RBI on Tuesday Bank of India (BOI) of shares nearly 4 per cent to 81.40 rupees the price to come to , while Monday to its stock 84.60 rupees to close the case. However , day climb to with its share of prices in Maluli reform was and BOI ‘s shares 2.78% down to 82.25 rupees at close in. However, today almost all the banks in the stock in decline recorded in went and Nifty Bank 1% of More or 358.35 points down to 35,085.30 digit to shut up. In fact , RBI said Bank of India on the norms of the violation to the for fines imposed.
this is the whole matter
BOI has 3l Marc 20l9 of a fraud to find out the order Anuas Supwaijri inspection has had and his fraud monitoring report (FMR) submitted was. RBI the risk assessment report of the investigation to find out that the cases in the bank has appropriate criteria for follow not done. RBIHe found that the bank ‘s fraud of information her time on not reported and fraud which assets to sell have been. In after RBI by BOI to cause me notice sent and asked that instructions to follow not to the for those on a penalty , why not put things. RBI to say Is that regulatory compliance for lack of due bank on the penalty imposed was that.
Bank of India will also be private!
Big news is coming about bank privatization. The central government had announced the privatization of two public sector banks in the budget presented in February. According to the announcement made by the Finance Minister, the government was planning to sell stake in Central Bank of India and Indian Overseas Bank, but now the news is coming that the government is planning to sell Bank of India. can also sell its stake in That is, Bank of India can also go into private hands.
