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      Question

      Which of the following banks/companies did NOT receive a

      penalty from RBI in Feb 2024?
      A Citibank Correct Answer Incorrect Answer
      B Asirvad Micro Finance Correct Answer Incorrect Answer
      C JM Financial Home Loans Correct Answer Incorrect Answer
      D HDFC Bank Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      RBI imposed monetary penalties on: Citibank (β‚Ή39 lakh) for delayed reporting of Large Exposures breaches, Asirvad Micro Finance (β‚Ή6.20 lakh) for not reporting borrower incomes and not providing factsheets for gold loans, and JM Financial Home Loans (β‚Ή1.50 lakh) for lack of risk gradation disclosures. However, HDFC Bank was not penalized in this instance.

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