BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Recently the Reserve Bank penalised three banks for violation of KYC norms and antimoney laundering guidelines. Which one is not among them?
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Axis Bank
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HDFC
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ICICI
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Kotak Mahindra Bank
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Explanation:
Detailed explanation-1: -The public sector lender Bank of India has been fined ₹70 lakh by the central bank for failing to follow Know Your Customer (KYC) guidelines.
Detailed explanation-2: -RBI imposes monetary penalty on IndusInd Bank Ltd (the bank) for non-compliance with certain directions issued by RBI on ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’.
Detailed explanation-3: -The Act provides a framework under which commercial banking in India is supervised and regulated. The Act supplements the Companies Act, 1956. Primary Agricultural Credit Society and cooperative land mortgage banks are excluded from the Act.
There is 1 question to complete.