RBI imposes penalties of Rs 93 lakh each on Axis and IDBI Bank – Reserve Bank of India has imposed a penalty of Rs 93 lakh on Axis Bank and IDBI Bank for various violations, including those related to KYC guidelines.
- RBI imposed a monetary penalty of Rs 93 lakh on Axis Bank for non-compliance with certain directions.
- RBI imposed a monetary penalty of Rs 93 lakh on IDBI Bank for non-compliance with directions on ‘frauds – classification and reporting by commercial banks and select financial institutions’.
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