According to data furnished by the Reserve Bank of India, between 2015 and 2017, which of the following bank has penalized the highest number of employees for defrauding bank assets in the last three years?

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	ICICI Bank
B	State Bank of India
C	Punjab National Bank
D	HDFC Bank

Explanation:

Detailed explanation-1: -Among all the public sector banks in India, State Bank of India (SBI) saw the highest number of employees penalised for their involvement in bank fraud over the course of past three years.

Detailed explanation-2: -Banks must make mandatory disclosures of risks, responsibilities and liabilities of the customers in doing business through Internet through a disclosure template. The banks should also provide their latest published financial results over the net.

Detailed explanation-3: -Statutory Fraud Committee : There shall be a FraudCommittee under the chairmanship of the nominee of the Governor of Reserve Bankof India and one nominee each from SEBI and IRDA.

Detailed explanation-4: -The correct answer is the Reserve Bank of India. Reserve Bank of India is the apex banking institution of India that regulates the financial sector.

Detailed explanation-5: -Misappropriation and criminal breach of trust. Fraudulent encashment through forged instruments, manipulation of books of account or through fictitious accounts and conversion of property. Unauthorised credit facilities extended for reward or for illegal gratification.

There is 1 question to complete.