- RBI imposed fines on Kotak Mahindra Bank, IDFC First Bank and Punjab National Bank.
- The fines were imposed due to failures to meet regulatory standards.
- Kotak Mahindra Bank was fined Rs 61.4 lakh.
- The penalty was imposed for violations relating to credit delivery system and restrictions on loans and advances.
- IDFC First Bank was fined Rs 38.6 lakh.
- It was imposed for non-compliance of Know Your Customer (KYC) norms.
- Punjab National Bank was fined Rs 29.6 lakh.
Tags:
Economics
