BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

Which organisation has slapped a Rs1-crore penalty on Syndicate Bank and Rs20 lakh on Axis Bank for violating norms recently?

A	NABARD
B	RBI
C	SEBI
D	TRAI

Explanation:

Detailed explanation-1: -MUMBAI: The Reserve Bank of India (RBI) Tuesday said it has imposed a total penalty of Rs 2.2 crore on private sector lender Axis Bank in two separate cases. A penalty of Rs 2 crore has also been imposed on UCO Bank and Rs 1 crore on Syndicate Bank for violation of norms.

Detailed explanation-2: -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-3: -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-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.