2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which bank has imposed monetary penalty on DCB Bank for rule violations?
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RBI
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SEBI
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SIDBI
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ADB
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Explanation:
Detailed explanation-1: -The Reserve Bank of India (RBI) has, by an order dated October 28, 2020, imposed a monetary penalty of ₹ 22 lakh (Rupees Twenty Two lakh only) on DCB Bank Ltd.
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.
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