Question

In the RBI penalty case, which of the following violations led to the penalty imposed on IndusInd Bank?

Q: Answer-In the RBI penalty case, which of the following violations led to the penalty imposed on IndusInd Ba...

IndusInd Bank was penalized by the RBI for violating regulations by opening savings deposit accounts in the name of ineligible entities, as discovered during the RBIs statutory inspection.

A Non-compliance in PAN verification

B Failure to issue Unique Customer Identification Code

C Opening savings deposit accounts for ineligible entities

D Incorrect foreign exchange transactions

E Violation of KYC norms

Practice Next

More BeePedia – Current Affairs Questions

A funding of $122 million to the top three Indian medical research institutions has recently been announced by which country?
Who was the main leader of the Quit India Movement of 1942?
The G-20 theme QR Code has been launched by which company to celebrate India's presidency of the inter-governmental forum?
As per the new guidelines on use of “Beacons”, which vehicles are allowed to use beacons?
Which three pilot locations have been chosen for the NITI Aayog-GAME entrepreneurship ecosystem initiative?
North India's first Nuclear Plant is coming up in which of the following city of Haryana?
Thorium-232 must be converted into which fissile material before it can be used as a nuclear fuel?
What is a major feature included in the Shaktishree programme for girl students in Odisha?
Under the RBI's new framework, loans will continue to be classified as Non-Performing Assets (NPAs) if repayments are overdue for more than how many days?
Which team did India defeat in the U-19 Women’s T20 World Cup 2025 final?

Hey! Ask a query

In the RBI penalty case, which of the following violations led to the penalty imposed on IndusInd Bank?

Detailed Solution

More BeePedia – Current Affairs Questions

Hey! Ask a query

Please Register/Login