Tuesday , September 21 2021

Axis Bank declines as RBI imposes penalty of Rs 25 lakh

Axis Bank is currently trading at Rs. 794.00, down by 9.15 points or 1.14% from its previous closing of Rs. 803.15 on the BSE.

Axis Bank

The scrip opened at Rs. 802.00 and has touched a high and low of Rs. 809.95 and Rs. 792.80 respectively. So far 113854 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 819.00 on 01-Sep-2021 and a 52 week low of Rs. 400.00 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 819.00 and Rs. 754.00 respectively. The current market cap of the company is Rs. 244142.58 crore.

The promoters holding in the company stood at 11.69%, while Institutions and Non-Institutions held 76.76% and 11.55% respectively.

The Reserve Bank of India (RBI) has imposed a penalty of Rs 25 lakh on Axis 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.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

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