2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RBI imposed Rs.1 crore penalty to this bank under Section 47 A of the Banking Regulation Act, 1949.
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Canara Bank
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Indian Bank
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State Bank of India
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Union Bank of India
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Explanation:
Detailed explanation-1: -Press Releases. The Reserve Bank of India (RBI) has, by an order dated November 16, 2021, imposed a monetary penalty of ₹1.00 Crore (Rupees One Crore only) on State Bank of India (the bank) for contravention of sub-section (2) of section 19 of the Banking Regulation Act, 1949 (the Act).
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