Question
Five banks were fined ₹2.6 crore by RBI in 2024 for
failing to follow its regulatory rules. Which of the following is not one of them?Solution
Explanation: RBI fines ICICI, Axis, BoB, IDBI & BoM ₹2.5 crore for rule breaches in offering banking services. Penalties won't affect customer accounts. The Reserve Bank of India (RBI) has fined 5 major Indian banks a total of ₹2.5 crore for failing to follow its regulatory rules.
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