The Reserve Bank of India has imposed a fine of Rs 1 crore on.....for violating cyber security norms recently.

BANKING GENERAL KNOWLEDGE

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

The Reserve Bank of India has imposed a fine of Rs 1 crore on____for violating cyber security norms recently.

A	State Bank of India
B	Bank of Baroda
C	Indian Bank
D	Punjab National Bank

Explanation:

Detailed explanation-1: -Press Releases. The Reserve Bank of India (RBI) has, by an order dated June 29, 2022, imposed a monetary penalty of ₹1 crore (Rupees One crore only) on IndusInd Bank Ltd.

Detailed explanation-2: -The Reserve Bank of India (RBI) has, by an order dated December 12, 2022, imposed a monetary penalty of ₹2.66 crore (Rupees Two crore sixty-six lakh only) on Bank of Bahrain & Kuwait BSC, India Operations (the bank) for non-compliance with directions issued by RBI on “Cyber Security Framework in Banks”.

Detailed explanation-3: -The Reserve Bank of India (RBI) has imposed, by an order dated January 31, 2023, a monetary penalty of ₹15.00 lakh (Rupees Fifteen lakh only) on The Utkal Cooperative Bank Ltd.

Detailed explanation-4: -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.

There is 1 question to complete.