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    Question

    Which regulatory body imposed fines on Axis Bank and

    HDFC Bank for failing to adhere to specific guidelines?
    A NABARD Correct Answer Incorrect Answer
    B Reserve Bank of India (RBI) Correct Answer Incorrect Answer
    C Employees' Provident Fund Organisation (EPFO) Correct Answer Incorrect Answer
    D Securities and Exchange Board of India (SEBI) Correct Answer Incorrect Answer
    E Small Industries Development Bank of India (SIDBI) Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) recently fined Axis Bank ₹1.91 crore and HDFC Bank ₹1 crore for not complying with norms concerning KYC and unique customer identification codes, aiming to strengthen banking oversight.

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