Revenue Department imposes fine of Rs 10.4 lakh on Indian Overseas Bank
- Country:
- India
Indian Overseas Bank on Saturday said the Revenue Department has levied a penalty of Rs 10.4 lakh on it for the delay in filing certain threshold based reports.
The Financial Intelligence Unit, Department of Revenue has levied a penalty on the bank for delay in filing of certain threshold based reports, Indian Overseas Bank said in a regulatory filing.
The bank has taken necessary measures to strengthen internal controls to avoid such recurrence, it added.
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