RBI fines HDFC, Axis Bank for non-compliance with regulations
The Reserve Bank of India has fined Axis Bank ₹1.91 crore and HDFC Bank ₹1 crore for regulatory non-compliance. Axis Bank's violations include multiple customer identification codes and collateral security for agricultural loans. HDFC Bank's issues involve giving gifts to depositors and contacting customers outside permitted hours.
HDFCBANK
AXISBANK
Economy
Markets