📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!


    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    Question

    Which enforcement action did the RBI take against

    Sonepat Central Cooperative Bank?
    A License cancellation Correct Answer Incorrect Answer
    B ₹25,000 penalty for non-submission of borrower data to CICs Correct Answer Incorrect Answer
    C Suspension of lending operations Correct Answer Incorrect Answer
    D Merger with a nationalized bank Correct Answer Incorrect Answer
    E Withdrawal of branch expansion permission Correct Answer Incorrect Answer

    Solution

    Explanation:  The RBI fined the bank for  failing to submit borrower credit data  to all four  Credit Information Companies , which is mandatory under RBI regulations to ensure  credit transparency .

    Practice Next
    ask-question