RBI imposes penalties on ICICI Bank, Bank of Baroda, 2 other lenders

The Reserve Bank of India (RBI) has levied penalties on ICICI Bank, Bank of Baroda, IDBI Bank, and Bank of Maharashtra for regulatory compliance deficiencies. ICICI Bank faces a Rs 97.80 lakh penalty for KYC, cybersecurity, and credit card-related non-compliance. Bank of Baroda is penalized Rs 61.40 lakh for shortcomings in financial and customer services.

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