Corporate News     09-Jul-22
RBI levies penalty of Rs 70 lakh on Bank of India
For non-compliance related to allotment of Customer Identification Code
The Reserve Bank of India has levied a penalty of Rs 70 lakh on Bank of India for failure of the Bank to Allot Unique Customer Identification Code (UCIC) to all its individual customers, thereby contravening the RBI (Know Your Customer) Direction, 2016 and Comply with the prescribed timeline for allotment of UCI.
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