Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.268)

268. 

RBI has imposed Rs 1 crore penalty on the State Bank of India for violating norms related to holding shares of the paid-up share capital of the companies as stated in subsection (2) of the section which of the Banking Regulation Act defines this rule?

[A]. Section 19
[B]. Section 28
[C]. Section 21
[D]. Section 15

Answer: Option A

Explanation:

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on State Bank of India (SBI) for violating sub-section (2) of section 19 of the Banking Regulation Act, 1949.

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