The central bank has also decided to impose penalty on four co-operative banks, , kotak mahindra bank, Induslnd Bank, reserve bank of india, fine imposed
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs1.05 crore on Kotak Mahindra Bank and Rs1 crore on IndusInd Bank for violating the provisions of its regulations.
The central bank added that “the statutory inspection for supervisory evaluation of the banks was conducted by RBI with reference to its financial positions as on March 31, 2018 and March 31, 2019.”
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