Google News
logo
Daily Current Affairs
Which bank has imposed monetary penalty on DCB Bank for rule violations?
A)
ADB
B)
RBI
C)
SEBI
D)
SIDBI

Correct Answer :   RBI


The Reserve Bank of India (RBI) imposed monetary penalty on DCB Bank and Jio Payments Bank for various rule violations. The central bank has imposed a penalty of Rs 22 lakh on DCB Bank for non-compliance with certain provisions on marketing/distribution of mutual fund/insurance etc. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

Published On : July 19, 2021
Advertisement