Question

The Reserve Bank of India has imposed a penalty of Rs 5 crore on which of the following banks for non-compliance of its directives?
A) Karur Vysya Bank
B) HDFC Bank
C) Kotak Mahindra Bank
D) Yes Bank

Answer 1

Karur Vysya Bank is the correct answer.

Answer 2

Answer:

The Reserve Bank of India has imposed a penalty of Rs 5 crore on Karur Vysya Bank for non-compliance of its directives.

The Reserve bank of India has imposed a penalty of Rupees five crore on Karur Vysya bank for non-compliance of its directives. Consistent with RBI statement, the penalty became imposed for non-compliance with its directions on "income recognition and Asset classification (IRAC) norms, reporting of frauds, and at the want for subject on the time of commencing of modern accounts".