Axis Bank Limited Disclosure under Regulation 30 of SEBI LODR

RNS Number : 2104R

Axis Bank Limited

05 June 2024

 

 

 

 

 

AXIS/CO/CS/155/2024-25

 

June 4, 2024

 

Dear Sir/Madam,        

       

SUB:	Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

 

We wish to inform you that the Financial Intelligence Unit - India ("FIU-IND") vide their order dated June 3, 2024, has imposed a monetary penalty amounting to Rs. 1,66,25,000/- (Rupees One crore Sixty- Six lakh and Twenty-Five Thousand only) on the Bank for non-compliances of Section 12(1)  of the Prevention of Money Laundering Act, 2002 read with Prevention of Money  Laundering (Maintenance of Records) Rules, 2005, in respect of opening and monitoring of certain accounts.

 

This penalty has been imposed in exercise of powers conferred under Section 13(2)(d) of the Prevention of Money Laundering Act, 2002 (PMLA).

 

The Bank has already initiated / taken corrective measures, as necessary, to align the operations / procedures in line with the stipulations of the FIU-IND and Reserve Bank of India.

 

The relevant information as per the format prescribed by SEBI vide its circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, is attached as Annexure A.

This is for your information and records.

 

Thanking you.

 

Yours faithfully,

 

For Axis Bank Limited

 

 

 

Sandeep Poddar

Company Secretary

http://www.rns-pdf.londonstockexchange.com/rns/2104R_1-2024-6-5.pdf 

Encl.: As above.

 

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