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    Question

    The Reserve Bank of India has recently imposed a

    monetary penalty citing various rule violations. How many co-operative banks have been penalized for non-compliance?
    A 3 Correct Answer Incorrect Answer
    B 5 Correct Answer Incorrect Answer
    C 7 Correct Answer Incorrect Answer
    D 10 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

     The Reserve Bank of India (RBI) has imposed a monetary penalty on five cooperative banks citing various rule violations. RBI has imposed a monetary penalty of Rs 5 lakh on Janakalyan Sahakari Bank for non-compliance, Rs 1 lakh on Pune Merchants Co-operative Bank, Rs 5 lakh on Indapur Urban Cooperative Bank Bank, Rs 2 lakh on the Patan Urban Co-operative Bank and Rs 5 lakh on Indapur Urban Cooperative Bank Bank.

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