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    Question

    Which bank was penalzed Rs 2 crore for non-compliance

    with KYC (Know Your Customer) norm?
    A Central Bank of India Correct Answer Incorrect Answer
    B Indian Oveseas Bank Correct Answer Incorrect Answer
    C Indusland Bank Correct Answer Incorrect Answer
    D Andhra Bank Correct Answer Incorrect Answer
    E Bank of Baroda Correct Answer Incorrect Answer

    Solution

    Ans- B, It also imposed a penalty of ₹2 crore on Indian Overseas Bank for non-compliance with Know Your Customer (KYC) norms. the bank was fined under Banking Regulation Act 1949.

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