The Reserve Bank on Friday( 22 February) said it has imposed a penalty of Rs 39 lakh on Citibank N.A. for non-compliance with directions pertaining to large exposures framework and delay in furnishing of credit information to CICs.

• The RBI said the statutory inspection for Supervisory Evaluation of the bank was conducted with reference to its financial position as on March 31, 2023.
• The central bank has also imposed a monetary penalty of Six Lakh Twenty Thousand Rupees on Asirvad Micro Finance Limited as it failed to report the household income of certain borrowers to Credit Information Companies.
• It also failed to provide factsheets to certain gold loan customers, besides failing to establish a system of auto-escalation of all complaints that were partly or wholly rejected by its internal grievance redressal mechanism to the Internal Ombudsman for a final decision.