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07 December, 2021 21:33 IST
Axis Bank dips as RBI imposes penalty of Rs 25 lakh
Source: IRIS | 03 Sep, 2021, 04.09PM
Rating: NAN / 5 stars.
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Shares of Axis Bank declined on Friday after the Reserve Bank of India (RBI) has imposed a penalty of Rs 25 lakh on the bank for contravention of certain provisions of Know Your Customer (KYC) norms.

The RBI said a scrutiny was carried out during February and March 2020 in a customer account maintained with Axis Bank, and it was observed that the bank had 'failed to comply' with directions contained in the Reserve Bank of India - KYC Direction, 2016.

Shares of Axis Bank are trading at Rs 792.90, down Rs 10.25, or 1.36% at the Bombay Stock Exchange (BSE) on Friday at 2.45 p.m.The scrip has touched an intra-day high of Rs 809.95 and low of Rs 787.60. The total volume of shares traded at the BSE is 153,650.

The stock has touched its 52-week high of Rs 819 and 52-week low of Rs 400 on September 1, 2021 and September 24, 2020 respectively.

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