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| 1. |
For which bank, the Reserve Bank of India slaps a penalty of Rs 5 crore for non-compliance of its directives? |
| Answer» The Reserve Bank of India has imposed a penalty of Rs 5 crore on Karur Vysya Bank for non-compliance of its directives. According to RBI statement, the penalty was imposed for non-compliance with its directions on "Income Recognition and Asset Classification (IRAC) norms, reporting of frauds, and on the need for discipline at the time of opening of current accounts". | |