Monetary Penalty on Indian Overseas Bank
The Reserve Bank of India (RBI) has, by an order dated October 31, 2023, imposed a monetary penalty of ₹1.00 Crore (Rupees One crore only) on Indian Overseas Bank (the…
Monetary Penalty on Citi Bank
The Reserve Bank of India (RBI) has, by an order dated November 02, 2023, imposed a monetary penalty of ₹5.00 crore (Rupees Five crore only) on Citibank N.A. (the bank)…
RBI Imposes Monetary Penalty on Bank of Baroda
The Reserve Bank of India (RBI) has, by an order dated November 02, 2023 imposed a monetary penalty of ₹4.34 crore (Rupees Four crore and thirty four lakh only) on…
FAQ on Positive Pay System
Reserve Bank of India (RBI) instructed all banks to implement Positive Pay System in order to safeguard customer money against Cheque frauds. It enables cheque issuing customer to reconfirm the…
MCQ on General Banking – Part 2
The following post contains the Multiple Choice Questions (MCQ) and Answers on General Banking. This might be useful for the candidates who prepare for Banking and other competitive exams. And, it also be…
What is Recurring Deposit (RD)?
Recurring Deposit is a most common type of investment where you can make regular monthly savings and earn interest. In RD, you are investing a sum of fixed amount on…