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Current Affairs - 2019
Which bank has been penalized with Rs 1.5 crore for not monitoring fund use and fraud reporting delay?
A)
Corporation Bank
B)
Allahabad Bank
C)
Canara Bank
D)
Andhra Bank

Correct Answer :   Allahabad Bank


Allahabad Bank said the Reserve Bank of India (RBI) has imposed a penalty of Rs 1.5 crore on them for not monitoring end use of funds, delay in classification and reporting of fraud and non-adherence with RBI guidelines during restructuring of accounts in respect of one of its borrowers.

Published On : July 11, 2021
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