Current Affairs - Banking - Discussion
Discussion Forum : Banking - Latest Current Affairs (Q.No. 86)
86.
What was the primary reason for the RBI imposing penalties on IndusInd Bank and Manappuram Finance?
Answer: Option
Explanation:
The Reserve Bank of India (RBI) imposed penalties on IndusInd Bank (₹27.3 lakh) and Manappuram Finance (₹20 lakh) due to non-compliance with regulatory norms. Inspections revealed deficiencies, such as the opening of savings accounts for ineligible entities by IndusInd Bank and failure to verify customer PANs or assign Unique Customer Identification Codes by Manappuram Finance. These actions highlight the importance of strict adherence to RBI’s regulatory guidelines.
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