Question

    What was the penalty imposed on RBL Bank for

    non-compliance with KYC norms?
    A ₹2.10 lakh Correct Answer Incorrect Answer
    B ₹61.40 lakh Correct Answer Incorrect Answer
    C ₹1 lakh Correct Answer Incorrect Answer
    D ₹3 lakh Correct Answer Incorrect Answer
    E ₹1.25 lakh Correct Answer Incorrect Answer

    Solution

    RBL Bank was fined ₹61.40 lakh for failing to comply with KYC norms, such as not obtaining Officially Valid Documents (OVD) for credit card accounts and assigning multiple Customer Identification Codes (CICs).

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