Which bank has been penalized with Rs 1.5 crore for not monitoring fun – InterviewSolution

InterviewSolution

1.	Which bank has been penalized with Rs 1.5 crore for not monitoring fund use and fraud reporting delay?
Answer» Allahabad Bank said the Reserve Bank of India (RBI) has imposed a penalty of Rs 1.5 crore on them for not monitoring end use of funds, delay in classification and reporting of fraud and non-adherence with RBI guidelines during restructuring of accounts in respect of one of its borrowers.

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