RBI imposes Rs. 30 Lac penalty on Axis Bank for Non-Compliance with directions on ‘Prudential Norms on Income Recognition’

The Reserve Bank of India (RBI) has imposed Rs. 39 lakhs penalty on Axis Bank, one of the top banks in India. According to the RBI, the axis bank didn’t comply with the certain provisions of  the directions issued by the RBI on ‘Prudential Norms on Income Recognition,  Asset Classification and Provisioning pertaining to Advances…

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