- KEB Hana Bank is a Korean bank that RBI has inspected regarding its financial position as of March 31st, 2020.
- During an inspection, RBI came to know that it doesn’t comply with the directions issued by RBI under ‘Reserve bank of India’(interest rate on deposits) directions 2016’.
- Interest rates offered by the bank to their lenders were not consistent and there is no transparency in interest rates levied by the bank.
- They have also not updated any information related to it in the core banking system for supervisory review.
- However, this penalty will not affect any transaction or agreement signed between the bank with its customers.
- Static Part:
- Established:1967 as Korean Exchange Bank
- Merged with Hana Bank: On 1Spetember 2015
- Headquarters: Seoul Korea
Question:
Q.1 How much amount of a penalty was imposed by RBI on KEB Hana Bank?a. 72 lakh
b. 59 lakh
c. 63 lakh
d. 82 lakh
