2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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On which bank The Reserve Bank of India has imposed a penalty of Rs 1 crore?
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Punjab National Bank
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Punjab & Sind Bank
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Bank of India
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Bank of Baroda
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Explanation:
Detailed explanation-1: -Kotak Mahindra Bank was fined for non-compliance with directions on limiting liability of customers in unauthorised electronic banking transactions, and statutory and other restrictions governing loans and advances, while IndusInd Bank was penalised for not following KYC (know-your-customer) directions.
Detailed explanation-2: -The RBI said a penalty of Rs 1 crore has been imposed on IndusInd Bank for non-compliance with certain Know Your Customer (KYC) norms.
Detailed explanation-3: -The Reserve Bank of India (RBI) has, by an order dated July 7, 2022, imposed a monetary penalty of ₹5.72 crore (Rupees Five crore and seventy-two lakh only) on Federal Bank Ltd.
There is 1 question to complete.