Kotak Bank Fined Rs 2 Cr By RBI For Deficiencies In Regulatory Compliance
  • WebDesk BTVI
  • Jun 07 2019

The RBI has imposed a penalty on Kotak Bank for Rs 2 Cr for non compliance for reducing its shareholding. Shriram Subramanian, Ingovern says that penalty on Kotak Bank is not positive for the bank. While, Hitesh Jain, ALMT Legal, says the bank is justified in invoking jurisdiction and the ruling of Bombay High Court will settle the core point of penalty on Kotak Bank's.