๐Ÿ“ข Too many exams? Donโ€™t know which one suits you best? Book Your Free Expert ๐Ÿ‘‰ call Now!

  • google app store apple app store
  • โœ–

      Question

      How much penalty was imposed on Bank of Baroda for

      failing to credit interest on dormant accounts and allowing non-cash incentives from insurers to staff?
      A โ‚น29.60 lakh Correct Answer Incorrect Answer
      B โ‚น97.80 lakh Correct Answer Incorrect Answer
      C โ‚น31.80 lakh Correct Answer Incorrect Answer
      D โ‚น61.40 lakh Correct Answer Incorrect Answer
      E โ‚น51.60 lakh Correct Answer Incorrect Answer

      Solution

      Bank of Baroda was fined โ‚น61.40 lakh after a statutory inspection revealed lapses such as failure to credit interest on dormant accounts and allowing insurers to offer non-cash incentives to staff, which violated RBI norms on customer service and deposit interest handling.

      Practice Next
      ask-question