<p class="title">State-owned Punjab National Bank (PNB) on Saturday said the RBI has imposed a penalty of Rs 50 lakh on it for the delay in reporting of fraud in the account of Kingfisher Airlines.</p>.<p class="bodytext">"RBI observed from the fraud monitoring report-1 submitted by Punjab National Bank on July 10, 2018, that the bank had delayed the reporting of fraud in the account of Kingfisher Airlines Limited," PNB said in a regulatory filing.</p>.<p class="bodytext">In exercise of the powers conferred under various sections of the Banking Regulation Act, 1949, a penalty of Rs 50 lakh was imposed by the RBI on the bank, it added.</p>.<p class="bodytext">In a separate filing, Bank of Baroda said the RBI has imposed a fine of Rs 50 lakh on it for the delay in reporting fraud in an account. </p>
<p class="title">State-owned Punjab National Bank (PNB) on Saturday said the RBI has imposed a penalty of Rs 50 lakh on it for the delay in reporting of fraud in the account of Kingfisher Airlines.</p>.<p class="bodytext">"RBI observed from the fraud monitoring report-1 submitted by Punjab National Bank on July 10, 2018, that the bank had delayed the reporting of fraud in the account of Kingfisher Airlines Limited," PNB said in a regulatory filing.</p>.<p class="bodytext">In exercise of the powers conferred under various sections of the Banking Regulation Act, 1949, a penalty of Rs 50 lakh was imposed by the RBI on the bank, it added.</p>.<p class="bodytext">In a separate filing, Bank of Baroda said the RBI has imposed a fine of Rs 50 lakh on it for the delay in reporting fraud in an account. </p>