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      Question

      What penalty did the RBI impose on HDFC Bank for

      non-compliance with KYC norms?
      A ₹50 lakh Correct Answer Incorrect Answer
      B ₹100 lakh Correct Answer Incorrect Answer
      C ₹68.2 lakh Correct Answer Incorrect Answer
      D ₹75 lakh Correct Answer Incorrect Answer
      E ₹10 lakh Correct Answer Incorrect Answer

      Solution

      RBI imposed 1 ₹75 lakh penalty on HDFC Bank for violations related to KYC norms, such as failure to classify customers based on risk and issuing multiple customer codes instead of 1 Unique Customer Identification Code (UCIC).

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