14 January 2019 Current Affairs:
The Reserve Bank of India (RBI) has imposed a fine on Citibank India, a foreign lender, a penalty of Rs.3 crore for not complying with ‘fit and proper’ criteria for directors.
It also said that the action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
About Citibank India:
♦ Established on 1902
♦ Headquartered: Mumbai, Maharashtra
♦ Citi Country Officer of the Bank: Pramit Jhaveri