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    Question

    How much monetary penalty did the RBI impose on Belgaum

    District Revenue Employees’ Co-operative Bank for failing to comply with KYC directions?
    A â‚ą1,00,000 Correct Answer Incorrect Answer
    B â‚ą50,000 Correct Answer Incorrect Answer
    C â‚ą25,000 Correct Answer Incorrect Answer
    D â‚ą75,000 Correct Answer Incorrect Answer
    E â‚ą10,000 Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) imposed a monetary penalty of ₹50,000 each on Belgaum District Revenue Employees’ Co-operative Bank, Batlagundu Co-operative Urban Bank, and Sivakasi Co-operative Urban Bank for non-compliance with KYC directions. Specifically, these banks failed to upload customer KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline.

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