Wednesday, February 6, 2019

RBI levies penalty on 3 banks, including Axis


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 Reserve Bank of India  has imposed a total penalty of Rs 2.2 crore on private sector lender Axis Bank in two separate cases.
A penalty of Rs 2 crore has also been imposed on UCO Bank and Rs 1 crore on Syndicate Bank for violation of norms.
The RBI says penalty of Rs 2 crore has been imposed each on Axis Bank and UCO Bank for non-compliance of norms related to payment through cheques.
In another case, a penalty of Rs 20 lakh has been imposed on Axis Bank for contravention of the directions related to detection and impounding of counterfeit notes.

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