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RBI penalises Axis Bank two other banks for rule violations

Admin - one year ago
Technology
RBI has imposed a penalty of ₹30 lakh on Axis Bank for non-compliance with certain provisions of the RBI directions related to Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances "“ Credit Card Accounts. RBI also imposed penalties of ₹1.45 crore and ₹2.5 crore on the Bank of Maharashtra and Jammu and Kashmir Bank, respectively.
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