Current Affairs - Finance - Discussion

Discussion Forum : Finance - Latest Current Affairs (Q.No. 101)

2024-05-27 Finance

101.

Which financial institution faced a penalty from the RBI for violating fair practices code provisions?

Muthoot Finance

Hero FinCorp

Sundaram Finance

Shriram Finance

Answer: Option

Explanation:

The penalty of Rs 3.1 lakh imposed by the RBI for violating fair practices code provisions was on Hero FinCorp. Despite its response and participation in the hearing, the RBI found the charges against the company substantiated, resulting in a penalty.