Mumbai, Feb. 21 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 39.00 lakh on private lender Citibank N.A. for non-compliance with certain directions issued by the RBI relating 'Large Exposures Framework' and 'Furnishing of Credit Information to Credit Information Companies (CICs).
The private lender reported certain breaches in Large Exposures with limits with delay, the RBI said adding Citibank didn't upload the rectified data pertaining to certain segment within stipulated time period leading to imposition of fines.
This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949 and Section 25(1)(iii) r...