New Delhi, Aug 3 (PTI) lndian Overseas Bank on Saturday said the Revenue Department has levied a penalty of Rs 10.4 lakh on it for delay in filing certain threshold based reports.

The Financial Intelligence Unit, Deportment of Revenue has levied a penalty on the bank for delay in filing of certain threshold based reports, lndian Overseas Bank said in a regulatory filing.

The bank has taken necessary measures to strengthen internal controls to avoid such recurrence, it added. PTI

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)