For which bank Reserve Bank of India has slapped a penalty of Rs 2 crore for non-compliance of regulatory directions?
Options
A. IDBI Bank
B. Bank of Baroda
C. Punjab National Bank
D. Syndicate Bank
Correct Answer
Punjab National Bank
Explanation
The Reserve Bank of India has slapped a penalty of Rs 2 crore on Punjab National Bank for non-compliance of regulatory directions with regard to SWIFT operations. SWIFT is a global messaging software used for sharing information on inter-bank transactions by financial entities.
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