The Reserve Bank of India has imposed penalties amounting to Rs 2.91 crore on Axis Bank and HDFC Bank for deficiencies in statutory and regulatory compliance. Axis Bank faces a penalty of Rs 1.91 crore, while HDFC Bank has been fined Rs 1 crore. The penalties address issues related to interest rates, KYC norms, and customer service.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.