RBI fines Axis Bank for routing unrelated entries via internal accounts
This story was originally published at 20:19 IST on 2 May 2025
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--RBI fines Axis Bank INR 2.96 mln
NEW DELHI – The Reserve Bank of India has fined Axis Bank INR 2.96 million for routing unauthorised or unrelated entries through internal accounts. The RBI had issued a show cause notice to Axis Bank on why a penalty should not be imposed on it after a statutory inspection for supervisory evaluation as on Mar. 31, 2024, found non-compliance with directions, the central bank said in a release Friday.
Axis Bank was ordered to pay a fine on Tuesday after its reply to the notice and other submissions led the central bank to conclude the charge warranted a penalty.
On Friday, shares of Axis Bank ended 0.2% lower at INR 1,182.20 on the National Stock Exchange. End
Reported by Siddharth Upasani
Edited by Saji George Titus
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