Citibank fined 39 lakh for violations

Citibank fined 39 lakh for violations
MUMBAI: RBI has fined Citibank Rs 39 lakh for not following certain regulations related to large exposures and credit information reporting. RBI took this action after a supervisory inspection of the bank's financial position as of March 31, 2023. The inspection found that Citibank had delayed reporting breaches in large exposure limits and failed to upload corrected credit data within seven days of receiving rejection reports from credit information companies.
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