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    Question

    The Reserve Bank of India (RBI) imposed a penalty of

    ₹28.30 lakh on SG Finserve Ltd for which violation?
    A Not adhering to Priority Sector Lending norms Correct Answer Incorrect Answer
    B Extending loans beyond approved limits Correct Answer Incorrect Answer
    C Non-compliance with conditions of its Certificate of Registration (CoR) Correct Answer Incorrect Answer
    D Failing to maintain adequate reserves Correct Answer Incorrect Answer
    E Delayed submission of financial statements Correct Answer Incorrect Answer

    Solution

    SG Finserve Ltd was penalized for violating the conditions of its Certificate of Registration (CoR), including accepting public funds and improper loan extensions.

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