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      Question

      What was the reason behind the RBI's imposition of a

      monetary penalty on Omkar Nagreeya Sahkari Bank Ltd . , Kanpur?
      A Fraudulent transactions Correct Answer Incorrect Answer
      B Non-compliance with deposit interest rate norms Correct Answer Incorrect Answer
      C Mismanagement of bank funds Correct Answer Incorrect Answer
      D Inadequate customer service Correct Answer Incorrect Answer
      E Lack of digital banking facilities Correct Answer Incorrect Answer

      Solution

      The RBI imposed a penalty on Omkar Nagreeya Sahkari Bank for non - compliance specifically related to offering higher interest rates on deposits than those permitted .

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