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VERIFIEDET Finance·negative
RBI imposes Rs 66.7 lakh penalty on Bank of Baroda, GIC Housing Finance
AI Summary
- ·RBI has fined Bank of Baroda Rs 63.6 lakh for charging excess interest and delayed KYC uploads.
- ·GIC Housing Finance has been penalized Rs 3.1 lakh for not conducting timely risk reviews.
- ·The penalties are for regulatory breaches by the two financial institutions.