Current Affairs - Banking - Discussion

Discussion Forum : Banking - Latest Current Affairs (Q.No. 1602)

2019-03-27 Banking

1602.

For which bank Reserve Bank of India has slapped a penalty of Rs 2 crore for non-compliance of regulatory directions?

IDBI Bank

Bank of Baroda

Punjab National Bank

Syndicate Bank

Answer: Option

Explanation:

The Reserve Bank of India has slapped a penalty of Rs 2 crore on Punjab National Bank for non-compliance of regulatory directions with regard to SWIFT operations. SWIFT is a global messaging software used for sharing information on inter-bank transactions by financial entities.