RBI imposes Rs 30 million fine on IDBI Bank
April 13th, 2018
The Reserve Bank of India (RBI) has imposed a Rs 3 crore penalty on IDBI Bank for not following the central bank’s rules on classification of loans. IDBI bank did not adhere to RBI’s norms on Income Recognition and Asset Classification. RBI said that this action is based on deficiencies in regulatory compliance.