Question

    Which bank was penalized ₹97.80 lakh by the RBI for

    violations including non-compliance with cybersecurity norms and delayed reporting of cyber incidents?
    A Axis Bank Correct Answer Incorrect Answer
    B ICICI Bank Correct Answer Incorrect Answer
    C IDBI Bank Correct Answer Incorrect Answer
    D Bank of Maharashtra Correct Answer Incorrect Answer
    E Bank of Baroda Correct Answer Incorrect Answer

    Solution

    ICICI Bank was fined ₹97.80 lakh for multiple violations, including failure to comply with cybersecurity, KYC, and debit/credit card regulations. It also delayed reporting cyber incidents and charged late fees without billing customers—serious lapses under Section 47A(1)(c).

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