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The Reserve Bank of India (RBI) imposed a monetary penalty of ₹93 lakh on Axis Bank and ₹90 lakh on IDBI Bank. RBI fined Axis Bank for non-compliance with directions on loans and advances, KYC guidelines and penalties on non-maintenance of minimum balance in savings accounts. IDBI Bank was fined for reporting frauds to RBI with delay, among other things.
short by Hiral Goyal / 07:05 pm on 08 Apr
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