2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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5 Cr
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4.4 Cr
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3 Cr
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2 Cr
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Detailed explanation-1: -The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs1. 05 crore on Kotak Mahindra Bank and Rs1 crore on IndusInd Bank for violating the provisions of its regulations.
Detailed explanation-2: -RBI imposes monetary penalty on Kotak Mahindra Bank Limited This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
Detailed explanation-3: -(KMFL), the Group’s flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd. Effective April 1, 2015, ING Vysya Bank Ltd. merged with Kotak Mahindra Bank Ltd.