RBI has fined 10 banks for non-compliance and contravention with the directions issued in RBI Circular dated February 20, 2018 on 'Time-bound implementation and strengthening of SWIFT- related operational controls. The RBI has slapped Rs 4 crore penalty on Bank of Baroda, while a fine of Rs 2 crore has been levied on Canara Bank for delayed implementation of the Swift related operational controls.
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