Question
Which bank failed to review risk categorization of
accounts every six months, leading to a ₹1 lakh penalty by RBI?Solution
Vijay Commercial Co-operative Bank was penalized ₹1 lakh for failing to review risk categorization of accounts every six months as mandated under KYC norms.
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Rs. 6,500 is invested in scheme ‘A’ for a year at simple interest of 20% p.a. The interest received from scheme ‘A’ is reinvested for 2 years in...
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