Current Affairs - Banking - Discussion

Discussion Forum : Banking - Latest Current Affairs (Q.No. 1522)

2019-06-09 Banking

1522.

RBI imposes Rs __________ crore on Kotak Mahindra Bank.

5 Cr

4.4 Cr

3 Cr

2 Cr

Answer: Option

Explanation:

The RBI has slapped a penalty of Rs. 2 crores on Kotak Mahindra Bank for the non-state lender's failure to adhere to the regulator's diktat on promoter shareholding. The central bank has been engaged in a dispute with Kotak Mahindra since 2014 over its failure to meet the milestone for stake reduction by Uday Kotak, the billionaire promoter of the bank.