RBI imposes Rs 61.95 lakh penalty on Kotak Mahindra Bank
New Delhi, Dec 19 (IANS) The Reserve Bank of India (RBI) on Friday imposed a penalty of Rs 61.95 lakh on Kotak Mahindra Bank for non-compliance with certain directions issued by it on access to banking services, on basic savings bank deposit accounts, the scope of activities to be undertaken of business correspondents (BCs), and for contravention of provisions of the Credit Information Companies Rules, 2006 (ClC Rules).