Question

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

    A ₹2 crore Correct Answer Incorrect Answer
    B ₹1 crore Correct Answer Incorrect Answer
    C ₹50 lakh Correct Answer Incorrect Answer
    D ₹5 crore Correct Answer Incorrect Answer
    E ₹75 lakh Correct Answer Incorrect Answer

    Solution

    The RBI imposed a penalty of ₹1 crore on HDFC Bank for non-compliance with guidelines related to the engagement of recovery agents.

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