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      Question

      Recently RBI fined Rs 5.72 crore on which of the

      following bank, due to shortcomings in regulatory compliance?
      A Axis Bank Correct Answer Incorrect Answer
      B ICICI Bank Correct Answer Incorrect Answer
      C Federal Bank Correct Answer Incorrect Answer
      D Standard Chartered Bank Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Due to shortcomings in regulatory compliance, the Reserve Bank of India (RBI) fined Federal Bank Rs 5.72 crore. The Reserve Bank of India (RBI) (financial services provided by banks) Directions, 2016 has strict penalties for violations.

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