RBI fines IDBI Bank â¹3 crore for failing to report bad loans
The RBI has imposed a penalty of â¹3 crore on IDBI Bank for failing to comply with norms related to reporting bad loans. In July 2017, IDBI Bank had under-reported â¹6,816.6 crore of bad loans for FY16, which were subsequently identified by the RBI. The central bank has mandated banks to disclose divergences that exceed 15% of the reported number.