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    • Question

      The RBI imposed a penalty of ₹20 lakh on which of the

      following companies for non-compliance with regulatory norms?
      A HDFC Bank Correct Answer Incorrect Answer
      B ICICI Bank Correct Answer Incorrect Answer
      C Manappuram Finance Correct Answer Incorrect Answer
      D Axis Bank Correct Answer Incorrect Answer
      E Yes Bank Correct Answer Incorrect Answer

      Solution

      The RBI imposed a ₹20 lakh penalty on Manappuram Finance for non-compliance with regulatory norms. The penalty was based on a statutory inspection conducted by the RBI, which highlighted issues like failure to conduct PAN verification during customer acceptance.

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