HomeNewsBankingRBI imposes penalties of Rs 93 lakh each on Axis and IDBI...

RBI imposes penalties of Rs 93 lakh each on Axis and IDBI Bank

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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