Earlier this month, the RBI imposed a monetary penalty of ₹1.05 crore on Kotak Mahindra Bank Ltd. for not complying with the central bank's rules. The lender had failed to credit (shadow reversal) the amount involved in the unauthorised electronic transactions to the customers' account within 10 working days from the date of notification by the customer, in certain cases. The bank also failed to maintain or apply margin on advances to stock brokers.