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      Question

      What penalty amount was imposed on Motiram Agrawal Jalna

      Merchants Co-operative Bank by the RBI?
      A ₹2 lakh Correct Answer Incorrect Answer
      B ₹1 lakh Correct Answer Incorrect Answer
      C ₹20,000 Correct Answer Incorrect Answer
      D ₹6 lakh Correct Answer Incorrect Answer
      E ₹10 lakh Correct Answer Incorrect Answer

      Solution

      Motiram Agrawal Jalna Merchants Co-operative Bank, located in Maharashtra, was penalized ₹6 lakh by the RBI. The penalty was imposed due to regulatory violations, including sanctioning loans to directors and exceeding exposure limits for a group, contravening RBI guidelines.

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