RBI acted after Bank of Baroda's ₹ 5 crore penalties was dropped

RBI acted after Bank of Baroda's ₹ 5 crore penalties was dropped

RBI acted after Bank of Baroda's ₹ 5 crore penalties was dropped

The Reserve Bank of India (RBI) has provided significant assistance to Bank of Baroda (BoB) today. The Rs. 5 crore fine against Bank of Baroda has been dropped by the Reserve Bank of India (RBI). This information was provided by the bank in today's exchange filing. The bank said in its statement that it received a letter from the RBI on January 10, 2024, advising it that this penalty would be waived.

The RBI, the nation's central bank, has provided significant assistance to Bank of Baroda (BoB) today. The fine of Rs. 5 crore against Bank of Baroda has been waived by the Reserve Bank of India (RBI). This information was provided by the bank in today's exchange filing. The bank said in its statement that it received a letter from RBI on January 10, 2024, telling it that this penalty will be waived. The bank was hit with this fine on December 22, 2023 of last year. Bank of Baroda was fined by RBI for improper handling of damaged notes.

Bank of Baroda's shares finished at Rs 226.05 on the BSE today, up 1.01%. Regarding the trend of the shares over the last year, on February 2, 2023, they were trading at a one-year low of Rs 146.50. From this point, it increased by around 64% in only 11 months, hitting a new high of Rs 240.00 for its shares on January 4, 2024. But the share price did not continue to grow from this point on, and it is already down more than 5% from its peak.