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?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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