Question

Under which statutory provisions of the Banking Regulation Act, 1949, did the Reserve Bank of India impose the ₹50,000 penalty on Sikkim State Co-operative Bank Ltd. on 8 September 2025?

A Section 35A read with Section 56
B Section 47A(1)(c) read with Sections 46(4)(i) and 56
C Section 24(2A) read with Section 42(1)
D Section 10(1) read with Section 29
E Section 45L read with Section 21
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