RBI imposes Rs 1.05 cr penalty on Kotak Mahindra Bank

The charge can be attributed to non- compliance with the Banking Regulation Act, 1949 and directions on ‘Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions’, and ‘Loans and Advances – Statutory and Other Restrictions’.

from Banking/Finance-Industry-Economic Times https://ift.tt/52zDTJX