The Reserve Bank of India (RBI) imposed a fine of Rs 1.95 crore on the Standard Chartered Bank for failing to report a cyber security incident within the prescribed time period, and failure to credit the amount involved in unauthorised electronic transactions, among other reasons. Standard Chartered Bank was penalised also for its non-compliance of RBI’s directions on customer protection.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Standard Chartered Bank had also allowed direct sales agents to conduct KYC verifications and failed to ensure the integrity of data submitted in the Central Repository of Information on Large Credits (CRILC).
Important takeaways for all competitive exams:
Renowned Indian actress Sowcar Janaki breathed her last at the age of 94 on August…
Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) is an initiative of the central government that…
Many of the finest sport athletes of Asia will be participating in the Asian Games…
Paneer is one of the most popular and widely used ingredients in India. However, recently…
Prominent Odia poet, essayist, and former scientist at CSIR-IMMT, Ashutosh Parida has been chosen for…
The Reserve Bank of India has named former chairman of the Indian Space Research Organisation,…