Question

    What was the primary reason for the ₹43.30 lakh

    penalty imposed on Rajkot Nagarik Sahakari Bank Ltd. by the RBI?
    A Insufficient cyber security measures Correct Answer Incorrect Answer
    B Non-compliance regarding prohibitions on loans to directors Correct Answer Incorrect Answer
    C Inadequate customer service protocols Correct Answer Incorrect Answer
    D Poor financial reporting standards Correct Answer Incorrect Answer
    E Failure in risk management procedures Correct Answer Incorrect Answer

    Solution

    Rajkot Nagarik Sahakari Bank Ltd. was fined ₹43.30 lakh for non-compliance issues related to prohibitions on loans to directors, among other infractions.

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