RBI Imposed Penalty on ICICI Bank

Current Context: The Reserve Bank of India (RBI) has imposed a penalty of Rs 3 crore on the ICICI Bank.

• The penalty is imposed for not following directions in the matter of shifting securities from one category to the other i.e. for violating investment portfolio norms.
• The penalty is imposed under Section 47 A (1) (c) read with sections 46 (4) (i) of the Banking Regulation Act, 1949.
• The penalty by RBI on ICICI Bank is for shifting certain investments from the HTM category to the AFS category in May 2017.
• ICICI Bank had transferred two separate categories of securities on two different dates from HTM to AFS in April and May of 2017, which as per ICICI Bank is permissible as per Master Circular on Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks'
• However, as per RBI, the shifting of securities held in May 2017 was without any prior permission from the central bank and which has led to violation of RBI directions by ICICI Bank.
• Static Part: 
• HQ of RBI and ICICI Bank: Mumbai
• MD and CEO of ICICI Bank: Sandeep Bakshi

Question: 

Q.1 How much amount of penalty was imposed by RBI on ICICI Bank in May 2021 for violating investment portfolio norms in regards to the shifting certain investments from HTM category to AFS category in May 2017 by ICICI Bank?
a. Rs 5 crore
b. Rs 2 crore
c. Rs 6 crore
d. Rs 3 crore