Press Releases - Enforcement - RBI - Reserve Bank of India
Press Releases
May 28, 2020
Reserve Bank of India imposes monetary penalty on Saraswat Co-operative Bank Ltd
The Reserve Bank of India (RBI) has imposed, by an order dated February 20, 2020, a monetary penalty of ₹30 lakh (Rupees Thirty lakh only) on Saraswat Co-operative Bank Ltd. (the bank) for non-compliance with directions issued by RBI on ‘Income Recognition and Asset Classification (IRAC) norms.’ The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulat
The Reserve Bank of India (RBI) has imposed, by an order dated February 20, 2020, a monetary penalty of ₹30 lakh (Rupees Thirty lakh only) on Saraswat Co-operative Bank Ltd. (the bank) for non-compliance with directions issued by RBI on ‘Income Recognition and Asset Classification (IRAC) norms.’ The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulat
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May 28, 2020
Reserve Bank of India imposes monetary penalty on Karnataka Bank Limited
The Reserve Bank of India (RBI) has, by an order dated May 27, 2020, imposed a monetary penalty of ₹1.20 crore on Karnataka Bank Ltd. (the bank) for non-compliance with certain provisions of directions issued by RBI on “Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Divergence in NPA Accounts” and “Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances”. The penalty h
The Reserve Bank of India (RBI) has, by an order dated May 27, 2020, imposed a monetary penalty of ₹1.20 crore on Karnataka Bank Ltd. (the bank) for non-compliance with certain provisions of directions issued by RBI on “Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Divergence in NPA Accounts” and “Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances”. The penalty h
Jan 31, 2020
Reserve Bank of India imposes monetary penalty on Fortune Integrated Assets Finance Limited
The Reserve Bank of India (RBI) has imposed, by an order dated January 31, 2020, a monetary penalty of ₹2 lakh on Fortune Integrated Assets Finance Ltd., Mumbai, for non-compliance with directions issued by RBI on ‘Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016’. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of sub-section (5) of section 58B of
The Reserve Bank of India (RBI) has imposed, by an order dated January 31, 2020, a monetary penalty of ₹2 lakh on Fortune Integrated Assets Finance Ltd., Mumbai, for non-compliance with directions issued by RBI on ‘Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016’. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of sub-section (5) of section 58B of
Jan 30, 2020
Reserve Bank of India imposes monetary penalty on Dombivli Nagari Sahakari Bank Limited
The Reserve Bank of India (RBI) has imposed, by order dated January 29, 2020, monetary penalty of ₹ 50 lakh on Dombivli Nagari Sahakari Bank Limited (the bank) for non-compliance with directions issued by RBI on Income Recognition and Asset Classification (IRAC) norms. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into
The Reserve Bank of India (RBI) has imposed, by order dated January 29, 2020, monetary penalty of ₹ 50 lakh on Dombivli Nagari Sahakari Bank Limited (the bank) for non-compliance with directions issued by RBI on Income Recognition and Asset Classification (IRAC) norms. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into
Jan 29, 2020
Reserve Bank of India imposes monetary penalty on HDFC Bank Limited
The Reserve Bank of India (RBI) has, by an order dated January 29, 2020, imposed a monetary penalty of ₹ 1 crore on HDFC Bank Limited for non-compliance with Master Direction on Know Your Customer dated February 25, 2016 (updated as on December 08, 2016) (Direction). The penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) of the Banking Regulation Act, 1949, taking into account the fail
The Reserve Bank of India (RBI) has, by an order dated January 29, 2020, imposed a monetary penalty of ₹ 1 crore on HDFC Bank Limited for non-compliance with Master Direction on Know Your Customer dated February 25, 2016 (updated as on December 08, 2016) (Direction). The penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) of the Banking Regulation Act, 1949, taking into account the fail
Jan 23, 2020
Reserve Bank of India imposes monetary penalty on Rajkot Nagarik Sahakari Bank Ltd.
The Reserve Bank of India (RBI) has imposed, by an order dated January 22, 2020, a monetary penalty of ₹ 37 lakh on the Rajkot Nagarik Sahakari Bank Ltd. (the bank) for non-compliance with directions issued by RBI on ‘Frauds – Classification and Reporting’ and ‘Management of Advances’. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act,
The Reserve Bank of India (RBI) has imposed, by an order dated January 22, 2020, a monetary penalty of ₹ 37 lakh on the Rajkot Nagarik Sahakari Bank Ltd. (the bank) for non-compliance with directions issued by RBI on ‘Frauds – Classification and Reporting’ and ‘Management of Advances’. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act,
Jan 23, 2020
Reserve Bank of India imposes monetary penalty on Apna Sahakari Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has, by order dated January 22, 2020, imposed monetary penalty of ₹ 14 lakh on Apna Sahakari Bank Ltd., Mumbai, (the bank) for non-compliance with directions issued by RBI on Income Recognition and Asset Classification (IRAC) norms. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, for failure of t
The Reserve Bank of India (RBI) has, by order dated January 22, 2020, imposed monetary penalty of ₹ 14 lakh on Apna Sahakari Bank Ltd., Mumbai, (the bank) for non-compliance with directions issued by RBI on Income Recognition and Asset Classification (IRAC) norms. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, for failure of t
Dec 05, 2019
Reserve Bank of India imposes monetary penalty on Andhra Bank
The Reserve Bank of India (RBI) has, by an order dated December 05, 2019, imposed a monetary penalty of ₹25 lakh on Andhra Bank for non-compliance with certain provisions of directions issued by RBI on Know Your Customer (KYC) Norms/ Anti Money Laundering (AML) Standards and Opening of Current Accounts. The penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) and section 51 (1) of the Ba
The Reserve Bank of India (RBI) has, by an order dated December 05, 2019, imposed a monetary penalty of ₹25 lakh on Andhra Bank for non-compliance with certain provisions of directions issued by RBI on Know Your Customer (KYC) Norms/ Anti Money Laundering (AML) Standards and Opening of Current Accounts. The penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) and section 51 (1) of the Ba
Nov 29, 2019
Reserve Bank of India imposes monetary penalty on Corporation Bank
The Reserve Bank of India (RBI) has, by an order dated November 29, 2019, imposed a monetary penalty of ₹1.50 crore on Corporation Bank (the bank) for non-compliance with certain provisions of directions issued by RBI on “Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Divergence in NPA Accounts”, “Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances”, “Prudential No
The Reserve Bank of India (RBI) has, by an order dated November 29, 2019, imposed a monetary penalty of ₹1.50 crore on Corporation Bank (the bank) for non-compliance with certain provisions of directions issued by RBI on “Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Divergence in NPA Accounts”, “Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances”, “Prudential No
Nov 20, 2019
Reserve Bank of India imposes monetary penalty on Indian Bank
The Reserve Bank of India (RBI) has imposed, by order dated November 18, 2019, monetary penalty of ₹ One crore on Indian Bank (the bank) for non-compliance with directions issued by RBI on Window-dressing of Balance Sheet and classification and reporting of frauds. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 51 (1) of the Banking Regulation Act, 1949, taking into
The Reserve Bank of India (RBI) has imposed, by order dated November 18, 2019, monetary penalty of ₹ One crore on Indian Bank (the bank) for non-compliance with directions issued by RBI on Window-dressing of Balance Sheet and classification and reporting of frauds. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 51 (1) of the Banking Regulation Act, 1949, taking into
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Page Last Updated on: October 29, 2024
