Current Affairs - Banking - Discussion

Discussion Forum : Banking - Latest Current Affairs (Q.No. 136)

2024-04-17 Banking

136.

Which bank was banned by the RBI from onboarding new customers on its mobile app due to cyber fraud concerns?

HDFC Bank

Axis Bank

Bank of Baroda

Canara Bank

Answer: Option

Explanation:

The RBI banned Bank of Baroda from onboarding new customers on its 'BoB World' mobile app in response to a surge in cyber fraud incidents, including the Bank of Baroda World app scam. This measure aims to address supervisory concerns and enhance cybersecurity in the banking sector.