New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    How much fine has been imposed by the Reserve Bank of

    India on Punjab and Sind Bank for non-compliance with certain directions on 'Loans and Advances Statutory and Other Restrictions ? 
    A Rs.45 lakh Correct Answer Incorrect Answer
    B Rs.65 lakh Correct Answer Incorrect Answer
    C Rs.81 lakh Correct Answer Incorrect Answer
    D Rs.1 crore Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India has imposed a penalty on Dhanlaxmi Bank, Punjab & Sind Bank and ESAF Small Finance Bank for non-compliance of banking rules. It has levied Rs1.2 crore on private sector Dhanlaxmi Bank for three violations. Further, a fine of Rs 1 crore has been imposed on Punjab and Sind Bank for non-compliance with certain directions on 'Loans and Advances Statutory and Other Restrictions'. The central bank has also imposed a penalty of Rs 29.55 lakh on ESAF Small Finance Bank for non-compliance with the directions issued by it on 'Customer Service in Banks'.

    Practice Next

    Relevant for Exams: