The Reserve Bank of India (RBI) has imposed monetary penalties on RBL Bank, Union Bank, and Bajaj Finance due to violation of certain norms.Which of the following is/are true regarding the above information ?
I.RBL Bank has been fined Rs 64,00,000 for its failure to obtain an annual declaration in Form B from one of its major shareholders within the stipulated time frame of one month after the close of the financial years ending on March 31, 2018, March 31, 2019, and March 31, 2020.
II.Union Bank of India has incurred a penalty of Rs 90 lakh for sanctioning a term loan to a corporation without conducting necessary due diligence on the viability and bankability of the projects.
III.A penalty worth Rs 8,50,000 was imposed on Bajaj Finance due to the company's non-compliance with the 'Monitoring of Frauds in NBFCs Directions, 2016.
The Reserve Bank of India (RBI) has imposed monetary penalties on RBL Bank, Union Bank, and Bajaj Finance due to violation of certain norms. RBL Bank has been fined Rs 64,00,000 for its failure to obtain an annual declaration in Form B from one of its major shareholders within the stipulated time frame of one month after the close of the financial years ending on March 31, 2018, March 31, 2019, and March 31, 2020. The bank also neglected to provide certificates to RBI confirming the 'fit and proper' status of one of its major shareholders by the end of September in these respective financial years. Further, Union Bank of India has incurred a penalty of Rs 1 crore for its failure to comply with specific directions. The bank had sanctioned a term loan to a corporation without conducting necessary due diligence on the viability and bankability of the projects. A penalty worth Rs 8,50,000 was imposed on Bajaj Finance. The penalty was levied due to the company's non-compliance with the 'Monitoring of Frauds in NBFCs Directions, 2016,' a set of guidelines issued by the RBI.
A sum of money will amount to Rs. 640 in 2 year & in 3 year it is to be 720 in compound interest . Find the rate of interest?
Shivam invested 22000 at 12% p.a. simple interest for ‘x’ months. If at the end of ‘x’ months, he received a total amount of Rs.27500. What is t...
If Vipul invests Rs.’a’ in scheme ‘M’ with a compound interest rate of 20% p.a. for two years, and the total amount received from scheme ‘M’...
Rs. 13000 invested for 2 years in a scheme offering compound interest (compounded annually) of 15% p.a. gives an interest that is Rs. 10 less than the i...
A sum of money C is Rs. 8000 more than B, B and C are invested at 10% p.a and 12.5% p.a, S.I for two years and the difference between the interest obtai...
Compound interest on a certain sum of money for 2 years is Rs.2860 while the simple interest on the same sum for the same time period is Rs.2600. Find t...
Atul has Rs.600 with him. He invested 30% of the amount at 5% p.a. for 6 years and rest at 15% p.a. for 4 years. Find the sum of simple interests receiv...
A certain sum of money becomes 3000 in 6 years and Rs. 4000 in 10 years at any certain rate of simple interest. Find the principal amount.
The ratio between the interest obtained from scheme L and M in 6 and 4 years is 4:3 respectively. In scheme L, Rs. 6000 was deposited on simple interest...
Find the total amount returned by Manish to the bank at the end of three years, when Rs.24000 is borrowed at the rate of (25/2)% compounded annually?(ca...