Consider the following statements regarding the monetary penalty imposed by the Reserve Bank of India (RBI) in December 2024:
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RBI imposed a penalty of Rs. 27.30 lakh on IndusInd Bank for non-compliance with the RBI (Interest Rate on Deposits) Directions, 2016.
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Manappuram Finance was penalised Rs. 20 lakh for violation of RBI (Know Your Customer, KYC) Direction, 2016.
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The penalties were imposed under the provisions of the Banking Regulation Act, 1949, and the RBI Act, 1934 respectively.
Which of the above statements is/are correct?
1
Only 1 and 2
2
Only 2 and 3
3
Only 1 and 3
4
Only 2
5
All statements are correct.