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Today General Knowledge(GK)
Recently, on which bank has RBI imposed a penalty of Rs 1 crore?
A)
Mahila Vikas Co-operative Bank
B)
Cooperatieve Rabobank UA
C)
Durgapur Steel Peoples Cooperative Bank
D)
Ahmednagar Merchant’s Cooperative Bank

Correct Answer : Option (B) - Cooperatieve Rabobank UA



Reserve Bank of India (RBI) on August 12, 2021 has imposed a penalty of Rs 1 crore on Cooperatieve Rabobank U.A. for deficiencies in regulatory compliances. The penalty has been imposed for contravention of certain provisions of the Banking Regulation Act, 1949 and directions related to ‘transfer to reserve funds’. RBI said a penalty of Rs 5 lakh has been imposed on Village Financial Services Ltd, Kolkata, for non-compliance with certain provisions of the Know Your Customer Directions, 2016. RBI has also imposed penalty of Rs 13 lakh on Ahmednagar Merchant’s Cooperative Bank, Ahmednagar, Maharashtra, and Rs 2 lakh on The Mahila Vikas Co-operative Bank, Ahmedabad.

Published On : August 15, 2021
Category : Banking
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