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Today General Knowledge(GK)
Who fined PNB and ICICI Bank?
A)
State Bank Of India (SBI)
B)
Reserve Bank of India (RBI)
C)
Central Bank of India
D)
Asian Development Bank(ADB)

Correct Answer : Option (B) - Reserve Bank of India (RBI)



A penalty of ₹ 1.8 crore has been imposed on Punjab National Bank (PNB) by the Reserve Bank of India (RBI), while ICICI Bank has been fined ₹ 30 lakh for deficiencies in regulatory compliances.
 
According to a statement issued by the central bank, PNB was found guilty of contravening provisions of the Banking Regulation Act, 1949, related to pledge of shares by it.
 
Investigations by RBI found that PNB had held shares in borrower companies, as pledgee, of an amount exceeding thirty per cent of paid-up share capital of those companies.

Source : NDTV

Published On : December 18, 2021
Category : Banking
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