Question

Which two banks have been fined by the Reserve Bank of India (RBI) due to regulatory non-compliance in September 2024?

• A. Indusind and Kotak Mahindra Bank
• B. SBI and Punjab National Bank
• C. HDFC and Axis Bank
• D. ICICI and Bank of Baroda

Answer 1

Answer:

C. HDFC and Axis Bank

HDFC and Axis Bank were fined by the Reserve Bank of India (RBI) in September 2024 for regulatory non-compliance. The Reserve Bank of India (RBI) on Tuesday (September 10) said it has imposed monetary penalties on two major banks, Axis Bank Ltd and HDFC Bank Ltd, for non-compliance with various regulatory directives. On September 3, 2024, Axis Bank was fined ₹1.91 crore, while HDFC Bank faced a penalty of ₹1 crore