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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-JUL-2024

PRIVATE BANKS: DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRESERVATION OF RECORDS OF IDENTIFICATION OF CUSTOMERS AND/OR THEIR ADDRESSES

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person AXIS BANK LTD.
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRESERVATION OF RECORDS OF IDENTIFICATION OF CUSTOMERS AND/OR THEIR ADDRESSES

MADE PERSISTENT CALLS TO SOME OF THE CUSTOMERS

DID NOT ENSURE APPROPRIATE BEHAVIOR OF RECOVERY AGENTS WITH SOME OF DELINQUENT BORROWERS AND DID NOT ENSURE A TAPE RECORDING OF THE CONTENT/TEXT OF THE CALLS MADE BY THE RECOVERY AGENTS

DID NOT OBTAIN DECLARATIONS FROM CUSTOMERS AT THE TIME OF OPENING OF CURRENT ACCOUNTS   		IMPOSED PENALTY RS.90,92,000

02-NOV-2023 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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