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Today General Knowledge(GK)
RBI has imposed restrictions on Mumbai-based _______ bank, Raigad Sahakari Bank.
A)
Citibank
B)
Cooperative bank
C)
Canara bank
D)
Indian bank

Correct Answer : Option (B) - Cooperative bank



RBI has imposed restrictions on Mumbai-based cooperative bank, Raigad Sahakari Bank.

Reason : Worsening of financial situation of the lender.

The restrictions also include a withdrawal limit of Rs 15,000 per customer and it will remain in force for a period of six months.

RBI has also imposed a penalty of Rs 6 lakhs on Shri Chhatrapati Rajarshi Shahu Urban Co-operative Bank Limited for contravention of provisions related to 'Frauds - Classification and Reporting'..

Source : India Times

Published On : July 20, 2022
Category : Banking
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