2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Reserve Bank of India (RBI) has imposed a penalty of what amount on RBL Bank for non-compliance with provisions of the Banking Regulation Act, 1949?
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Rs. 2 crore
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Rs. 4 crore
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Rs. 6 crore
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Rs. 10 crore
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Explanation:
Detailed explanation-1: -Press Releases. The Reserve Bank of India (RBI) has, by an order dated November 16, 2021, imposed a monetary penalty of ₹1.00 Crore (Rupees One Crore only) on State Bank of India (the bank) for contravention of sub-section (2) of section 19 of the Banking Regulation Act, 1949 (the Act).
Detailed explanation-2: -(4AAA) Whoever fails to comply with any order made by the Company Law Board under sub-section (2) of section 45QA, shall be punishable with imprisonment for a term which may extend to three years and shall also be liable to a fine of not less than rupees fifty for every day during which such non-compliance continues.]
Detailed explanation-3: -Section 35 in BANKING REGULATION ACT, 1949.
There is 1 question to complete.