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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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