RBI slaps penalties on Bank of India, Karnataka Bank
In another case, RBI has imposed a penalty of Rs 1.20 crore on Karnataka Bank Ltd for non-compliance with certain provisions of directions issued by it on "Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances-Divergence in NPA Accounts" and "Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances".
![RBI slaps penalties on Bank of India, Karnataka Bank RBI slaps penalties on Bank of India, Karnataka Bank](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2020/05/29/120370-rbi1-reuters.png?itok=DAnvyP48&c=c5af8c0f92ccc8e249257bf0f1cb18e8)
Reserve Bank of India (RBI) said on Thursday that it has imposed a monetary penalty of Rs 5 crore on Bank of India. According to the regulator, Photo: Reuters