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    Question

    The Reserve Bank of India imposed a penalty of ₹1

    crore on which bank for offering gifts in the form of paying first-year life insurance premiums?
    A ICICI Bank Correct Answer Incorrect Answer
    B HDFC Bank Correct Answer Incorrect Answer
    C Axis Bank Correct Answer Incorrect Answer
    D Punjab National Bank Correct Answer Incorrect Answer
    E State Bank of India Correct Answer Incorrect Answer

    Solution

    The RBI imposed a ₹1 crore penalty on HDFC Bank for offering gifts, such as paying first-year life insurance premiums, on certain deposits.

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