Reserve bank of India imposed 2 crore penalty on Kotak Mahindra bank
Reserve Bank of India (RBI) imposed a penalty of ₹2 crore on Kotak Mahindra Bank for not furnishing information about the dilution of promoter shareholding. The penalty imposed in exercise of powers vested in it under the provisions of the Banking Regulation Act, 1949. It is mainly based on the deficiencies in regulatory compliance It is […]
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