Question
Of what amount the Reserve Bank of India (RBI) has
imposed the monetary penalty on Axis Bank and IDBI Bank respectively for various violations of regulatory compliance?Solution
A monetary penalty of Rs 93 lakh has been imposed on Axis Bank for non-compliance of certain directions issued by RBI, the regulator said in a release. Reserve Bank of India has imposed a penalty of Rs 93 lakh on Axis Bank for various violations, including those related to KYC guidelines.
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