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      Question

      The RBI imposed a monetary penalty of Rs 10.10 lakh on

      City Union Bank (CUB) for which of the following violations?
      A Failing to report SARFAESI proceedings Correct Answer Incorrect Answer
      B Levying loan-related charges on priority sector agriculture advances up to Rs 25,000 Correct Answer Incorrect Answer
      C Violating KYC norms for NRI accounts Correct Answer Incorrect Answer
      D Non-maintenance of CRR and SLR Correct Answer Incorrect Answer
      E Excessive interest on credit card dues Correct Answer Incorrect Answer

      Solution

      RBI imposed a penalty of Rs 10.10 lakh on City Union Bank for levying loan-related charges on certain priority sector agriculture advances up to Rs 25,000 and for failing to report Self Help Group (SHG) member-level data to credit information companies.

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