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    Question

    What was the primary reason for the ₹43. 30 lakh penalty imposed on Rajkot Nagarik Sahakari Bank Ltd. by the RBI?

    A Insufficient cyber security measures Correct Answer Incorrect Answer
    B Non-compliance regarding prohibitions on loans to directors Correct Answer Incorrect Answer
    C Inadequate customer service protocols Correct Answer Incorrect Answer
    D Poor financial reporting standards Correct Answer Incorrect Answer
    E Failure in risk management procedures Correct Answer Incorrect Answer

    Solution

    Rajkot Nagarik Sahakari Bank Ltd. was fined ₹43. 30 lakh for non- compliance issues related to prohibitions on loans to directors, among other infractions.

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