RBI has imposed a penalty of.....on private sector Axis Bank for violation of non-performing asset (NPA) classification norms recently.

BANKING GENERAL KNOWLEDGE

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

RBI has imposed a penalty of____on private sector Axis Bank for violation of non-performing asset (NPA) classification norms recently.

A	Rs 9 crore
B	Rs 1 crore
C	Rs 7 crore
D	Rs 3 crore

Explanation:

Detailed explanation-1: -The Reserve Bank of India (RBI) has imposed, by an order dated April 07, 2022, a monetary penalty of ₹93 Lakh (Rupees Ninety-three Lakh only) on Axis Bank Ltd.

Detailed explanation-2: -RBI imposes monetary penalty on Federal Bank Limited This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Detailed explanation-3: -Press Releases. The Reserve Bank of India (RBI) has, by an order dated November 16, 2021, imposed a monetary penalty of ₹1.00 Crore (Rupees One Crore only) on State Bank of India (the bank) for contravention of sub-section (2) of section 19 of the Banking Regulation Act, 1949 (the Act).

Detailed explanation-4: -RBI imposes monetary penalty of Rs 93 lakh on Axis Bank for non-compliance of directions.

There is 1 question to complete.