The Reserve Bank on Friday said it has imposed a penalty of Rs 39 lakh on Citibank N.A. for non-compliance with directions pertaining to large exposures framework and delay in furnishing of credit information to CICs. In a statement, the RBI said the statutory inspection for Supervisory Evaluation of the bank was conducted with reference to its financial position as on March 31, 2023.Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to Citibank N.A. advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said RBI directions.After considering the bank's reply to the notice and oral submissions made during the personal hearing, RBI found that the bank reported certain breaches in large exposures limits with delay; and it did not upload the rectified data pertaining to certain segment, within seven days of receipt of the rejection reports from Credit Information Companies.The RBI also imposed a penalty of Rs 1.50 lakh on JM Financial Home Loans Limited for non-compliance with certain provisions of the 'Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021'.A penalty of Rs 6.20 lakh has also been imposed on Asirvad Micro Finance Limited for non-compliance with certain provisions.In all cases, the RBI said the penalties are based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the entities with their customers. RBI To Inject $10 Billion Via Forex Swap To Curb Cash Crunch. Read more on Business by NDTV Profit.