- The penalty of Rs 25 lakh is imposed on the Punjab and Sind Bank.
- The penalty is imposed for not following directions under ‘Cyber Security Framework in Banks’.
- The penalty is imposed under the powers mentioned by RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banking Regulation Act, 1949.
- Static Part:
- HQ of Punjab and Sind Bank: New Delhi
- Tagline of Punjab and Sind Bank: Where Service Is A Way Of Life
- MD and CEO of Punjab and Sind Bank: S Krishnan
Question:
Q.1 How much amount of penalty was imposed by RBI on Punjab and Sind Bank for not following directions under ‘Cyber Security Framework in Banks’?
a. Rs 15 lakh
b. Rs 35 lakh
c. Rs 25 lakh
d. R 45 lakh
a. Rs 15 lakh
b. Rs 35 lakh
c. Rs 25 lakh
d. R 45 lakh