Question

    What penalty did the RBI impose on Fino Payments Bank

    for non-compliance with licensing norms? 
    A ₹10.2 lakh Correct Answer Incorrect Answer
    B ₹18.5 lakh Correct Answer Incorrect Answer
    C ₹29.6 lakh Correct Answer Incorrect Answer
    D ₹31.1 lakh Correct Answer Incorrect Answer
    E ₹25.0 lakh Correct Answer Incorrect Answer

    Solution

    RBI fined Fino Payments Bank ₹29.6 lakh for exceeding end-of-day balance limits in customer accounts, violating payments bank licensing norms. 

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