Multiple choice

Which of the following statements about Bank of Rajasthan's (BoR) merger with a leading bank is/are correct?

I. BoR merged with HDFC Bank. II. BoR is promoted by the Tayal family. III. BoR was fined Rs 25 lakh by the RBI in Feb 2010 for violating know-your customer (KYC) guidelines.

  1. I only

  2. I and II only

  3. II and III only

  4. III and I only

  5. I, II and III
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Bank of Rajasthan (BoR), one of the oldest private sector banks in the country, on May 18, 2010 announced that it would merge with the largest private sector bank, ICICI Bank. P K Tayal is the main promoter of BoR. BoR under Tayals has been under regulatory scanner for a while. In February, RBI slapped a fine of Rs 25 lakh on the bank following violations related to know-your customer (KYC) guidelines.

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