
RBI waives ₹5 crore penalty imposed on Bank of Baroda over shortfall in soiled note remittances
Bank of Baroda (BOB) said the Reserve Bank of India (RBI) has decided to waive the ₹5 crore penalty that was previously imposed on it due to a shortfall in soiled note remittances.
The penalty was attributed to a shortfall in soiled note remittances, indicating issues with the handling of notes that had undergone normal wear and tear.