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RBI imposes penalty of Rs 25 lakh on Axis Bank
The Reserve Bank of India (RBI) on Wednesday imposed a monetary penalty of Rs 25 lakhs on Axis Bank Limited. According to the central bank, the penalty was levied for contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016.
READ MORE: Depositors of THESE banks to get up to Rs 5 lakh back
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