What value of monetary penalty has been imposed by RBI on Axis Bank for violatio

Question

What value of monetary penalty has been imposed by RBI on Axis Bank for violation of certain provisions of the know your customer (KYC) norms?

Options:

A . Rs 70 lakh

B . Rs 25 lakh

C . Rs 55 lakh

D . Rs 1 crore

Answer: Option B

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 25 lakh on Axis Bank for violating certain provisions of knowing your customer (KYC) norms.

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