RBI imposes penalty on Kotak Mahindra Bank, IDFC First Bank, PNB

The Reserve Bank of India has levied penalties on Kotak Mahindra Bank, IDFC First Bank, and Punjab National Bank due to regulatory compliance deficiencies. Kotak Mahindra Bank faces a Rs 61.4 lakh penalty for non-compliance with loan system guidelines, while IDFC First Bank is fined Rs 38.6 lakh for KYC violations. Punjab National Bank received a Rs 29.