RBI slaps penalties on HDFC, Kotak Mahindra Bank, Allahabad Bank and Bank of Maharashtra
The RBI on Tuesday said it has imposed penalties on seven lenders, including HDFC, Kotak Mahindra Bank, Allahabad Bank and Bank of Maharashtra for violation of various banking norms.
The RBI said Rs 20 lakh fine each on HDFC Bank, IDBI Bank and Kotak Mahindra Bank for non-compliance with various directions on Know Your Customer (KYC) norms and Anti-Money Laundering (AML) standards. Image source: Reuters