2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Allahabad Bank
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Punjab National Bank
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State Bank of India
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Union Bank of India
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Detailed explanation-1: -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-2: -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-3: -The Reserve Bank of India (RBI) has, by an order dated December 15, 2021, imposed a monetary penalty of ₹1.80 Crore (Rupees One Crore and eighty lakh only) on Punjab National Bank (the bank) for contravention of sub-section (2) of section 19 of the Banking Regulation Act, 1949 (the Act).
Detailed explanation-4: -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.