RBI fines Citibank INR 3.9 mln for breaking large exposure cap, other norms
This story was originally published at 20:34 IST on 21 February 2025
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--RBI fines Citibank INR 3.9 mln for breaking large exposure cap, other norms
MUMBAI – The Reserve Bank of India Friday said it had imposed a penalty of INR 3.90 million on Citibank, N.A., after a statutory inspection of the lender's financial position as of the end of financial year 2022-23 (Apr-Mar) showed it had not complied with certain norms of the central bank.
According to the RBI, Citibank reported certain breaches in large exposure limits with a delay. It also did not upload certain rectified data within seven days of getting rejection reports from credit information companies.
The RBI's large exposures framework spells out limits for a bank's exposure to all its counterparties and groups of connected counterparties. End
Reported by Cassandra Carvalho
Edited by Rajeev Pai
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