RBI slaps monetary penalty on Central Bank of India

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RBI slaps monetary penalty on Central Bank of India for non-compliance

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The order was issued on April 18, 2022.

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Customer Protection-Limiting Liability of Customers in Unauthorised Electronic Banking Transactions', it said in a statement

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RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) and section 51(1) of the Banking Regulation Act, 1949.

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CBI was conducted by the central bank with reference to its financial position as of March 31, 2020.

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