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    Question

    What was the reason behind the RBI's imposition of a

    monetary penalty on Omkar Nagreeya Sahkari Bank Ltd . , Kanpur?
    A Fraudulent transactions Correct Answer Incorrect Answer
    B Non-compliance with deposit interest rate norms Correct Answer Incorrect Answer
    C Mismanagement of bank funds Correct Answer Incorrect Answer
    D Inadequate customer service Correct Answer Incorrect Answer
    E Lack of digital banking facilities Correct Answer Incorrect Answer

    Solution

    The RBI imposed a penalty on Omkar Nagreeya Sahkari Bank for non - compliance specifically related to offering higher interest rates on deposits than those permitted .

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