The RBI has fined HDFC Bank ₹1.91 crore and Axis Bank ₹1 crore for regulatory non-compliance. HDFC Bank violated deposit regulations and customer service guidelines, while Axis Bank breached the Banking Regulation Act and KYC rules, impacting agricultural loans and account management.
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HDFC Bank fined ₹1.91 crore, Axis Bank penalized ₹1 crore for non-compliance with RBI directions
September 11, 2024
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