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    Question

    Which bank has been directed to stop on-boarding of new

    customers into its mobile banking facility and can be started after rectifying the existing deficiencies observed and strengthening the process according to the RBI standards? 
    A Indian Bank Correct Answer Incorrect Answer
    B Bank of Baroda Correct Answer Incorrect Answer
    C Union Bank of India Correct Answer Incorrect Answer
    D UCO Bank Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) has directed Bank of Baroda (BoB) to stop on-boarding of new customers into its mobile banking facility – ‘bob World’ — with immediate effect. In order to add customers, the bank will have to rectify the existing deficiencies observed and strengthen the process according to the RBI standards.

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