Answer-The Reserve Bank of India (RBI) has imposed a monetary penalty on the State Bank of India (SBI), Pun...

The Reserve Bank of India RBI has imposed a monetary penalty on the State Bank of India SBI, Punjab Sind Bank, and Indian Bank owing to non-compliance with certain regulations. SBI is penalised with Rs 1.30 crore due to lack of compliance with directions on Loans and Advances Statutory and Other Restrictions and Guidelines on Management of Intra-Group Transactions and Exposures. Meanwhile, Indian Bank is charged with Rs 1.62 crore for non-compliance with Loans and Advances Statutory and Other Restrictions, along with Reserve Bank of India Know Your Customer KYC Directions, 2016 and Reserve Bank of India Interest Rate on Deposits Directions, 2016. Punjab Sind Bank has to pay a fine of Rs 1 crore for failing to comply with regulations on The Depositor Education and Awareness Fund Scheme, 2014Section 26A of Banking Regulation Act, 1949Operational Guidelines.

Question

The Reserve Bank of India (RB

C ] Directions, 2016' and 'Reserve Bank of India (Interest Rate on Deposits) Directions, 2016'. III. Punjab & Sind Bank has to pay a fine of Rs 1.5 crore for failing to comply with regulations on 'The Depositor Education and Awareness Fund Scheme, 2014–Section 26A of Banking Regulation Act, 1949–Operational Guidelines'.
I has imposed a monetary penalty on the State Bank of India (SB
I , Punjab & Sind Bank, and Indian Bank owing to non-compliance with certain regulations.With respect to the given information,which of the following statements is/are true? I. SBI is penalized with Rs 1.30 crore due to lack of compliance with directions on 'Loans and Advances – Statutory and Other Restrictions' and 'Guidelines on Management of Intra-Group Transactions and Exposures'. II. Indian Bank is charged with Rs 1.99 crore for non-compliance with 'Loans and Advances – Statutory and Other Restrictions', along with 'Reserve Bank of India [Know Your Customer (KY