Axis Bank has received a Letter of Caution from the Reserve Bank of India (RBI) following a High Court directive regarding KYC compliance. The caution relates to instructions in a judgement dated September 11, 2025. The bank has already initiated corrective measures to align operations with RBI’s KYC norms. The RBI’s order is dated October 9, 2025.
RBI Issues Cautionary Letter
Axis Bank has been issued a Letter of Caution by the Reserve Bank of India (RBI) concerning compliance with Know Your Customer (KYC) regulations. This action follows directions outlined in a High Court judgement from September 11, 2025.
Details of the Caution
The Letter of Caution relates to the need for extreme caution and diligence in adhering to RBI’s instructions on KYC norms. The RBI issued its order on October 9, 2025, based on compliance observations dating back to 2009.
Corrective Measures Undertaken
Axis Bank states that it has already initiated and implemented corrective measures to ensure its operations and procedures align with the RBI’s stipulations. The bank has taken steps to strengthen its KYC compliance framework.
Expected Impact
Axis Bank believes that the Letter of Caution will not have any material impact on its financial operations or other activities.
Source: BSE
