The Reserve Bank on Thursday imposed a monetary penalty of Rs 90.92 lakh on Axis Bank and Rs 42.78 lakh on gold loan firm Manappuram Finance for violation of certain directions of the banking sector regulator. The fine has been imposed for non-compliance with certain directions issued by the RBI on 'Reserve Bank of India (KYC) Directions, 2016', 'Loans and Advances - Statutory and Other Restrictions', 'Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks', and 'Code of Conduct for Opening and Operating Current Accounts', the central bank said in a statement.