Question

Which enforcement action did the RBI take against

Q: Answer-Which enforcement action did the RBI take against Sonepat Central Cooperative Bank?

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 .

Sonepat Central Cooperative Bank?

A License cancellation

B ₹25,000 penalty for non-submission of borrower data to CICs

C Suspension of lending operations

D Merger with a nationalized bank

E Withdrawal of branch expansion permission

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Solution