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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCGRGDLXUGDGSU