Axis Bank Limited Disclosure under Reg 30 of SEBI (LODR) Reg. 2015 (8222T)
17 November 2023 - 6:00PM
UK Regulatory
TIDMAXB TIDMAXBA
RNS Number : 8222T
Axis Bank Limited
17 November 2023
AXIS/CO/CS/456/2023-24
November 17, 2023
Dear Sir(s),
Sub.: Disclosure under Regulation 30 of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015.
We wish to inform you that the Reserve Bank of India ("RBI")
has, vide letter dated November 16, 2023, imposed a monetary
penalty amounting to Rs. 90.92 lakhs (Rupees Ninety lakh and Ninety
Two Thousand only) for non-compliance with certain directions
issued by RBI on ' Reserve Bank of India (Know Your Customer (KYC))
Directions, 2016 ', 'Loans and Advances - Statutory and Other
Restrictions', 'Guidelines on Managing Risks and Code of Conduct in
Outsourcing of Financial Services by banks' and 'Code of Conduct
for Opening and Operating Current Accounts'. The press release
issued by RBI is attached herewith.
This penalty has been imposed in exercise of powers vested in
RBI conferred under the provisions of Section 47A(1)(c) read with
Section 46(4)(i) of the Banking Regulations Act, 1949 and emanates
from statutory inspections for supervisory evaluation for FY22.
The Bank has already initiated / taken corrective measures, as
necessary, to align the operations / procedures in line with the
stipulations of the RBI.
The relevant information as per the format prescribed by SEBI
vide its circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated
July 13, 2023, is attached as Annexure A.
This is for your information and records.
Thanking You.
With warm regards,
For Axis Bank Limited
Sandeep Poddar
Company Secretary
Encl: a/a
http://www.rns-pdf.londonstockexchange.com/rns/8222T_1-2023-11-17.pdf
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