CURRENT AFFAIRS

Detailed explanation-1: -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-2: -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-3: -The Reserve Bank of India (RBI) on Friday imposed a monetary penalty of Rs 93 lakh on private lender Axis Bank.