Mumbai: The RBI has imposed penalties on Axis Bank, HDFC Bank and ICICI Bank of Rs 5 crore, Rs 4.5 crore and Rs 1 crore respectively for violating anti-money laundering norms, including the know your customer (KYC) rules regarding risk categorization and periodic review of risk profiling of account holders. Other violations include flouting KYC norms for walk-in customers, sale of third party products and not reporting cash transactions and even PAN details. |
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