The incident took place around 8.30 in the morning and the local people informed the authorities concerned.
South-based Federal Bank has been penalised Rs 5 crore for non-compliance on reporting of large borrower exposures and non-payment of customer compensations, among other deficiencies, the Reserve Bank said on Wednesday.
Kochi: The Federal Bank branch near Kannan Varky Bridge area suffered minor damages as fire erupted in the branch office on Saturday. According to a spokesman of the Federal Bank, a short circuit was suspected to be the reason behind the mishap. There was no substantial loss in the fire, he said.
The incident took place around 8.30 in the morning and the local people informed the authorities concerned. The police and the fire brigade officials extinguished the blaze in an hour. Second Saturday being a holiday, no staff was present in the bank at the time of the mishap.
( Source : Deccan Chronicle. )
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