VERIFIEDMint Industry·3 Jul 2026negative

RBI slaps Bank of Baroda, GIC Housing Finance with ₹66.7 lakh penalty for non-compliance — Here's all you need to know

AI Summary

·RBI has imposed a penalty of ₹66.7 lakh on Bank of Baroda and GIC Housing Finance.
·The penalty is for non-compliance with the fair practices code for lenders.
·The non-compliance also includes violations of Know Your Customer (KYC) guidelines.