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Reserve Bank of India penalises Kotak Mahindra Bank for Rs 2 crore

Reserve Bank of India penalises Kotak Mahindra Bank for Rs 2 crore

Jun 10, 2019, at 05:38 pm

Mumbai, June 10 (UNI )The Reserve Bank of India (RBI) imposed a monetary penalty of Rs two crore on Kotak Mahindra Bank Limited for non-compliance, with the directions issued to the bank by RBI in exercise of its powers under Sections 27(2) and 35A of the Banking Regulation Act, 1949 (the Act), to furnish information specified therein.