The Reserve Bank of India has recently fined Rs 27 crore in how many banks for violation of FEMA and lapses in know your client (KYC) rules

2016

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

A	7
B	11
C	13
D	15

Explanation:

Detailed explanation-1: -MUMBAI: In a major crackdown for Fema violations and KYC lapses, the RBI has imposed Rs 27-crore penalty on 13 public and private sector banks, including PNB and HDFC Bank, while asking eight others including SBI and ICICI Bank to ensure strict compliance with guidelines.

Detailed explanation-2: -RBI Imposes Fine on These 9 Banks-Do you have account in any of them?

Detailed explanation-3: -The Reserve Bank of India (RBI) on Monday informed that it has imposed monetary penalties on nine cooperative banks from six states for non-compliance with various provisions.

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.

Detailed explanation-5: -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.

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