Based mostly on supervisory findings of non-compliance with RBI instructions and associated correspondence in that regard, a discover was issued to Citibank N.A. advising it to indicate trigger as to why penalty shouldn’t be imposed on it for its failure to adjust to the stated RBI instructions.
After contemplating the financial institution’s reply to the discover and oral submissions made through the private listening to, RBI discovered that the financial institution reported sure breaches in massive exposures limits with delay; and it didn’t add the rectified information pertaining to sure section, inside seven days of receipt of the rejection experiences from Credit score Info Firms.
