{"id":2147,"date":"2019-06-21T07:14:55","date_gmt":"2019-06-21T07:14:55","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=2147"},"modified":"2019-07-07T05:07:10","modified_gmt":"2019-07-07T05:07:10","slug":"reserve-bank-of-india-imposed-2-crore-penalty-on-kotak-mahindra-bank","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/reserve-bank-of-india-imposed-2-crore-penalty-on-kotak-mahindra-bank\/","title":{"rendered":"Reserve bank of India imposed 2 crore penalty on Kotak Mahindra bank"},"content":{"rendered":"\n<p><strong>Reserve Bank of India (RBI)&nbsp;<\/strong>imposed a penalty of \u20b92 crore on Kotak Mahindra Bank for not\nfurnishing information about the dilution of promoter shareholding.<br>\nThe penalty imposed in exercise of powers vested\nin it under the provisions of the Banking Regulation Act, 1949.<br>\nIt is mainly based on the deficiencies in\nregulatory compliance&nbsp;<br>\nIt is not intended to pronounce upon the\nvalidity of any transaction or agreement entered into by the bank.<br>\nThe bank failed to comply and a show cause\nnotice was issued to the bank as to why penalty should not be imposed for\nnon-compliance with the said directions.<br>\nUday Kotak recently told the Bombay High Court\nhe was in full compliance of the RBI rules and the regulator had never\ncommunicated to the promoters on the matter of shareholding.&nbsp;<br>\n<br>\n<strong>About Reserve Bank of India<\/strong><br>\nHeadquarters: Mumbai, Maharashtra, India<br>\nEstablished: 1 April 1935<br>\nGovernor: Shaktikanta Das<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reserve Bank of India (RBI)&nbsp;imposed a penalty of \u20b92 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&nbsp; It is [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":2148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[],"class_list":["post-2147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/2147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=2147"}],"version-history":[{"count":2,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/2147\/revisions"}],"predecessor-version":[{"id":3385,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/2147\/revisions\/3385"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/2148"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=2147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=2147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=2147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}