CURRENT AFFAIRS

2021

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

The RBI has imposed Rs 6 crore aggregate penalties on which of these banks?

A	Bank of Maharashtra and Canara Bank
B	BoI and PNB
C	Union Bank of India and IOB
D	Indian Bank and UCO Bank

Explanation:

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: -RBI imposes monetary penalty on Federal 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.

There is 1 question to complete.