Current Affairs - Banking - Discussion

Discussion Forum : Banking - Latest Current Affairs (Q.No. 518)
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?
Section 19
Section 28
Section 21
Section 15
Answer: Option
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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