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      Question

      The Reserve Bank of India (RBI) imposed a monetary

      penalty on Poonawalla Fincorp Limited for which reason?
      A Non-compliance with RBI’s liquidity norms Correct Answer Incorrect Answer
      B Overcharging customers on loan interests Correct Answer Incorrect Answer
      C Non-compliance with the 'Fair Practices Code for NBFCs' Correct Answer Incorrect Answer
      D Misreporting financial data to RBI Correct Answer Incorrect Answer
      E Engaging in fraudulent activities Correct Answer Incorrect Answer

      Solution

      The RBI imposed a penalty of β‚Ή10 lakh on Poonawalla Fincorp Limited, Pune, due to non-compliance with the 'Fair Practices Code for NBFCs,' specifically for charging interest on loans from dates prior to disbursal, which was against the terms communicated to customers.

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