The Reserve Bank of India (RBI) has imposed a hefty fine of ₹1.45 crore on the Central Bank of India. This penalty comes as a consequence of the bank's failure to comply with specific regulatory guidelines. Key issues included lapses in adherence to norms related to fraud classification and reporting. The RBI's strict action underscores its commitment to maintaining financial discipline and regulatory compliance among banks. The Central Bank of India has been directed to take corrective measures to prevent future violations. This move is part of RBI's ongoing efforts to ensure the robustness and integrity of the banking sector.