Mumbai, Nov 24 : The RBI on Friday slapped penalties totalling Rs 10.34 crore on Citibank, Bank of Baroda, and Indian Overseas Bank for the breach of banking norms. A fine of Rs 5 crore has been imposed on Citibank NA for non-compliance of norms related to the depositor education and awareness fund scheme, and code of conduct on outsourcing of financial services and KYC norms, the RBI said. A penalty of Rs 4.34 crore has been imposed on public sector Bank of Baroda for violation of certain directions related to the creation of a central repository of large common exposures, and others. Another Rs 1 crore penalty was levied on government-owned Indian Overseas Bank for contravention of directions concerning loans and advances. The Reserve Bank of India also clarified that the penalties on the three banks are based on deficiencies in regulatory compliance and do not have a bearing on the validity of any transaction or agreement entered into with their customers. /IANS