RBI fined ..... Public Sector Banks for violating KYC norms.

2019

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

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

RBI fined ____ Public Sector Banks for violating KYC norms.

A	3
B	4
C	6
D	8

Explanation:

Detailed explanation-1: -RBI fined Federal Bank and Bank of India for violating regulatory norms. 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: -The Reserve Bank of India (RBI) has fined Bank of Maharashtra Rs 1.12 crore for failing to follow various instructions, particularly those related to Know Your Customer (KYC) regulations, as per PTI said.

Detailed explanation-3: -The Reserve Bank of India (RBI) has, by an order dated September 07, 2022, imposed a monetary penalty of ₹36 lakh (Rupees Thirty-six lakh only) on Industrial Bank of Korea (the bank) for non-compliance with certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’.

Detailed explanation-4: -The Reserve Bank of India on Monday announced penalties on 13 cooperative banks for contravention of various regulatory norms.

There is 1 question to complete.