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Citigroup's India unit fined over director criteria noncompliance

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Citigroup's India unit fined over director criteria noncompliance

The central bank of India fined Citigroup Inc. unit Citibank NA India 30 million rupees for its failure to comply with directions regarding the "fit and proper" criteria for bank directors, according to a Jan. 11 release.

As of Jan. 11, US$1 was equivalent to 70.40 Indian rupees.