CURRENT AFFAIRS

2021

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

RBI has imposed Rs 1 crore monetary penalty on which payments bank for violating norms under Section 26 (2) of the Payment and Settlement Systems Act, 2007?

A	Aditya Birla Payments Bank
B	Paytm Payments Bank
C	Airtel Payments Bank
D	Jio Payments Bank

Explanation:

Detailed explanation-1: -RBI Imposes ₹ 1 Crore Penalty On Paytm Payments Bank .

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 December 12, 2022, imposed a monetary penalty of ₹2.66 crore (Rupees Two crore sixty-six lakh only) on Bank of Bahrain & Kuwait BSC, India Operations (the bank) for non-compliance with directions issued by RBI on “Cyber Security Framework in Banks”.

Detailed explanation-4: -India Code: Payment and Settlement Systems Act, 2007. Long Title: An Act to provide for the regulation and supervision of payment systems in India and to designate the Reserve Bank of India as the authority for that purpose and for matters connected therewith or incidental thereto.

There is 1 question to complete.