Bank Penalties by RBI RBI fines Axis Bank and HDFC Bank 2.91 crore for regulatory compliance deficiencies. admin, September 10, 2024 The Reserve Bank of India (RBI) announced on Tuesday that it has imposed penalties on Axis Bank and HDFC Bank for various violations. Axis Bank was penalized Rs 1.91 crore for contravening certain provisions of the Banking Regulation Act and non-compliance with directions related to ‘Interest Rate on Deposits’, ‘Know… Continue Reading