RBI imposes penalty on Axis, IDBI Bank, action taken for violating these rules

RBI imposes penalties on Axis, IDBI Bank: The Reserve Bank of India (RBI) has imposed a penalty of Rs 93 lakh on private sector Axis Bank for violating several norms including Know Your Customer (KYC) guidelines. is. RBI has also imposed a penalty of Rs 90 lakh on IDBI Bank. The Reserve Bank said in a release on Friday that a penalty of Rs 93 lakh has been imposed on Axis Bank for non-compliance of certain instructions.