Module: General Practice
Q8: What penalty is levied if a currency chest wrongly reports soiled note remittances sent to the RBI as 'withdrawals'?
✅ Correct Answer: A
If soiled note remittances to the RBI are incorrectly reported as 'withdrawals', a flat penalty of ₹50,000/- is levied, irrespective of the value of the remittance or the period of wrong reporting.
This specific fine highlights the importance of accurate classification in Currency Chest Reporting.
This specific fine highlights the importance of accurate classification in Currency Chest Reporting.