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Informist, Friday, Dec. 19, 2025

 

--RBI fines Kotak Mahindra Bank INR 6.2 mln for non-compliance

 

MUMBAI – The Reserve Bank of India Friday said it has imposed a penalty of INR 6.2 million on Kotak Mahindra Bank for non-compliance with several regulatory directions. The banking regulator penalised Kotak Mahindra Bank for providing inaccurate information about certain borrowers to credit information companies. It also fined the bank for opening basic savings bank deposit accounts for customers who already had such accounts with it.

 

Kotak Mahindra Bank was also penalised for entering into an arrangement with business correspondents to conduct activities beyond their scope.

 

For the September quarter, Kotak Mahindra Bank had reported a net profit of INR 32.53 billion, down 2.7% on year and 0.9% on quarter. Friday, its shares closed 0.2% lower at INR 2,159.50 on the National Stock Exchange.  End

 

Reported by Cassandra Carvalho

Edited by Rajeev Pai

 

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