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In June 2021, the RBI imposed a penalty of how many rupees on Mogaveera Co-operative Bank Limited due to deficiencies in regulatory compliance?

1. 6 lakh
2. 8 lakh
3. 10 lakh
4. 12 lakh

Correct answer: 12 lakh

Solution

The RBI imposed a penalty of ₹12 lakh on Mogaveera Co-operative Bank Limited in June 2021 for deficiencies in regulatory compliance. Such penalties are announced by the RBI in official press releases.

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