RBI imposes Rs.1 crore penalty for this bank for violating its KYC, AML norms.

2019

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

A	Dena Bank
B	Yes Bank
C	ICICI Bank
D	HDFC Bank

Explanation:

Detailed explanation-1: -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.

Detailed explanation-2: -RBI imposes monetary penalty on Kotak Mahindra Bank Limited This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) of the Act.

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 (RBI) has imposed, by an order dated January 31, 2023, a monetary penalty of ₹15.00 lakh (Rupees Fifteen lakh only) on The Utkal Cooperative Bank Ltd.

There is 1 question to complete.