HDFC Bank fined ₹1.91 crore, Axis Bank penalized ₹1 crore for non-compliance with RBI directions

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.

source https://www.livemint.com/news/hdfc-bank-fined-rs-1-91-crore-axis-bank-penalized-rs-1-crore-for-non-compliance-with-rbi-directions-11725986844555.html