Question

    What penalty did the RBI impose on HDFC Bank for violating recovery agent guidelines?  

    A ₹50 lakh Correct Answer Incorrect Answer
    B ₹1 crore Correct Answer Incorrect Answer
    C ₹2 crore Correct Answer Incorrect Answer
    D ₹75 lakh Correct Answer Incorrect Answer
    E ₹1.5 crore Correct Answer Incorrect Answer

    Solution

    The RBI imposed a ₹1 crore penalty on HDFC Bank for violations related to the engagement of recovery agents, including contacting customers outside the stipulated hours.  

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