The Reserve Bank of India (RBI) has, by an order dated April 17, 2025, imposed a monetary penalty of ₹63.60 lakh (Rupees Sixty three lakh sixty thousand only) on Indian Overseas Bank (the bank) for non-compliance with certain directions issued by RBI on ‘Credit Flow to Agriculture- Collateral free agricultural loans’ and ‘Lending to Micro, Small & Medium Enterprises (MSME) Sector’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated April 08, 2025, imposed a monetary penalty of ₹1,61,40,000 (Rupees One crore sixty one lakh forty thousand only) on Indian Bank (the bank) for contravention of provisions of Section 26A of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on ‘Interest Rate on Advances’, ‘Kisan Credit Card (KCC) Scheme’ and ‘Lending to Micro, Small and Medium Enterprises (MSME) Sector’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated April 4, 2025, imposed a monetary penalty of ₹29.60 lakh (Rupees Twenty Nine Lakh Sixty Thousand only) on Punjab National Bank (the bank) for non-compliance with certain directions issued by RBI on ‘Customer Service in Banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated April 3, 2025, imposed a monetary penalty of ₹38.60 lakh (Rupees Thirty Eight Lakh Sixty Thousand only) on IDFC First Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated April 11, 2025, imposed a monetary penalty of ₹61.40 lakh (Rupees Sixty One Lakh Forty Thousand only) on Kotak Mahindra Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Guidelines on Loan System for Delivery of Bank Credit’ and ‘Loans and Advances – Statutory and Other Restrictions’

The Reserve Bank of India has imposed a monetary penalty of Rs. 3,20,000/- (Rupees Three Lakhs Twenty Thousand only) on Citibank N.A. in exercise of powers vested in the Reserve Bank under the provisions of Section 11(3) of FEMA, 1999, for not undertaking due diligence while processing the inward remittances from a Foreign Currency Account opened by a constituent, resulting in contravention of Section 10 (4) of FEMA, 1999.

The Reserve Bank of India (RBl) has, by an order dated April 03, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Shri Ganesh Sahakari Bank Limited, Nashik, Maharashtra (the bank) for contravention of the provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated March 28, 2025, imposed a monetary penalty of ₹36.40 lakh (Rupees Thirty Six Lakh and Forty Thousand only) on Aryavart Bank, Lucknow (the bank) for contravention of provisions of Section 26A read with Section 51(1) of of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated March 26, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Kodungallur Town Co-operative Bank Ltd., Kerala (the bank) for non-compliance with certain directions issued by RBI on ‘Management of Advances – UCBs’, ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs’ and ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated March 26, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Karnataka Gramin Bank, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Strengthening of Prudential Norms- Provisioning Asset Classification and Exposure Limit, 2001’ read with ‘Income Recognition, Asset Classification and Provisioning Norms-Guidelines, 1996’. This penalty has been imposed in exercise of powers conferred on RBI, under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.