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    Question

    The Reserve Bank of India (RBI) has imposed a monetary

    penalty of ______ on the Hongkong and Shanghai Banking Corporation (HSBC) for violating the Credit Information Companies Rules
    A Rs.1.55 crore Correct Answer Incorrect Answer
    B Rs.1.62 crore Correct Answer Incorrect Answer
    C Rs.1.75 crore Correct Answer Incorrect Answer
    D Rs.1.89 crore Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.75 crore on the Hongkong and Shanghai Banking Corporation (HSBC) for violating the Credit Information Companies Rules.    The penalties are based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers.

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