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    Question

    Which financial regulator imposed a penalty of Rs 31.8

    lakh on BNP Paribas?
    A NABARD Correct Answer Incorrect Answer
    B RBI Correct Answer Incorrect Answer
    C EPFO Correct Answer Incorrect Answer
    D SEBI Correct Answer Incorrect Answer
    E SIDBI Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) levied a fine of Rs 31.8 lakh on BNP Paribas due to non-compliance with the RBI's guidelines on 'Interest Rate on Advances'. This action falls under the regulatory purview granted to RBI by Sections 47 A(1)(c) and 46(4)(i) of the Banking Regulation Act, 1949.

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