Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.67)

67. 

On which bank The Reserve Bank of India has imposed a penalty of Rs 1 crore?

[A]. Punjab National Bank
[B]. Punjab & Sind Bank
[C]. Bank of India
[D]. Bank of Baroda

Answer: Option A

Explanation:

The Reserve Bank of India has imposed a penalty of Rs 1 crore on Punjab National Bank for violating the Payment and Settlement Systems Act, 2007, the state-run lender said. Punjab National Bank was operating a bilateral ATM-sharing arrangement with Druk PNB Bank Ltd., Bhutan, since April 2010 without prior approval or authorization from India's banking regulator RBI imposed the Rs 1 crore penalty for "contravention of the nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007.

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