Question
The Reserve Bank of India (RBI) has imposed a penalty of
______ on RBL Bank for not complying with the central banks’ norms on internal ombudsman scheme.Solution
The Reserve Bank of India (RBI) has imposed a penalty of Rs 2.27 crore on RBL Bank for not complying with the central banks’ norms on internal ombudsman scheme, fair practices code, credit card operations, managing risks and code of conduct in outsourcing of financial services, and recovery agents engaged.
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