Press Releases - Enforcement - RBI - Reserve Bank of India
Press Releases
May 13, 2022
Reserve Bank of India imposes monetary penalty on KEB Hana Bank
The Reserve Bank of India (RBI) has imposed, by an order dated May 12, 2022, a monetary penalty of ₹59 Lakh (Rupees Fifty Nine Lakh only) on KEB Hana Bank (the bank), for non-compliance with the directions issued by RBI on “Reserve Bank of India (Interest Rate on Deposits) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with sections 46 (4) (i) of the Banking Regulation Act, 1949 (t
The Reserve Bank of India (RBI) has imposed, by an order dated May 12, 2022, a monetary penalty of ₹59 Lakh (Rupees Fifty Nine Lakh only) on KEB Hana Bank (the bank), for non-compliance with the directions issued by RBI on “Reserve Bank of India (Interest Rate on Deposits) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with sections 46 (4) (i) of the Banking Regulation Act, 1949 (t
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May 12, 2022
RBI imposes Monetary Penalty on Unimoni Financial Services Limited
The Reserve Bank of India (RBI) has imposed monetary penalty of ₹29,79,000/- (Rupees twenty nine lakh seventy nine thousand only) on Unimoni Financial Services Limited (the entity) for non-compliance with the instruction contained in paragraph 9.1(i) of the Master Direction on Issuance and Operation of Prepaid Payment Instruments (PPI MD) dated October 11, 2017 (as updated on November 17, 2020). The penalty has been imposed in exercise of powers vested in RBI under Se
The Reserve Bank of India (RBI) has imposed monetary penalty of ₹29,79,000/- (Rupees twenty nine lakh seventy nine thousand only) on Unimoni Financial Services Limited (the entity) for non-compliance with the instruction contained in paragraph 9.1(i) of the Master Direction on Issuance and Operation of Prepaid Payment Instruments (PPI MD) dated October 11, 2017 (as updated on November 17, 2020). The penalty has been imposed in exercise of powers vested in RBI under Se
May 09, 2022
RBI imposes monetary penalty on Abhyudaya Co-operative Bank Limited, Mumbai
The Reserve Bank of India (RBI) has, by an order dated May 05, 2022, imposed a monetary penalty of ₹58.00 lakh (Rupees Fifty-Eight Lakh only) on Abhyudaya Co-operative Bank Limited, Mumbai (the bank) for non-compliance with the directions issued by RBI on ‘Placement of Deposits with Other Banks’, ‘Monitoring and Reporting Mechanism of Frauds’, ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters (IRAC norms)’ and ‘Management of Advances’.
The Reserve Bank of India (RBI) has, by an order dated May 05, 2022, imposed a monetary penalty of ₹58.00 lakh (Rupees Fifty-Eight Lakh only) on Abhyudaya Co-operative Bank Limited, Mumbai (the bank) for non-compliance with the directions issued by RBI on ‘Placement of Deposits with Other Banks’, ‘Monitoring and Reporting Mechanism of Frauds’, ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters (IRAC norms)’ and ‘Management of Advances’.
May 09, 2022
Reserve Bank of India imposes monetary penalty on Noida Commercial Co-operative Bank Ltd., Ghaziabad, U.P.
The Reserve Bank of India (RBI) has imposed, by an order dated May 04, 2022, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Noida Commercial Co-operative Bank Ltd., Ghaziabad (the bank) for contravention of Section 35A and section 36 (1) read with Section 56 of the Banking Regulation Act, 1949. This 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 th
The Reserve Bank of India (RBI) has imposed, by an order dated May 04, 2022, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Noida Commercial Co-operative Bank Ltd., Ghaziabad (the bank) for contravention of Section 35A and section 36 (1) read with Section 56 of the Banking Regulation Act, 1949. This 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 th
May 06, 2022
Reserve Bank of India imposes monetary penalty on Daimler Financial Services India Private Limited, Pune, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated May 05, 2022, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on Daimler Financial Services India Private Limited, Pune, Maharashtra (the company) for non-compliance with the ‘Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016’ issued by RBI. This 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
The Reserve Bank of India (RBI) has, by an order dated May 05, 2022, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on Daimler Financial Services India Private Limited, Pune, Maharashtra (the company) for non-compliance with the ‘Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016’ issued by RBI. This 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
May 06, 2022
Reserve Bank of India imposes monetary penalty on KKR India Financial Services Limited, Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated May 05, 2022, a monetary penalty of ₹5.00 Lakh (Rupees Five Lakh only) on KKR India Financial Services Limited, Mumbai (the company) for non-compliance with the ‘Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016’ issued by RBI. This 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-sect
The Reserve Bank of India (RBI) has imposed, by an order dated May 05, 2022, a monetary penalty of ₹5.00 Lakh (Rupees Five Lakh only) on KKR India Financial Services Limited, Mumbai (the company) for non-compliance with the ‘Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016’ issued by RBI. This 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-sect
May 02, 2022
Reserve Bank of India imposes monetary penalty on Shree Kadi Nagarik Sahakari Bank Ltd., Kadi (Gujarat)
The Reserve Bank of India (RBI) has, by an Order dated April 29, 2022, imposed a monetary penalty of ₹4.00 lakh (Rupees four lakh only) on Shree Kadi Nagarik Sahakari Bank Ltd., Kadi (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’, ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’, ‘Bank Finance against Shares and Debe
The Reserve Bank of India (RBI) has, by an Order dated April 29, 2022, imposed a monetary penalty of ₹4.00 lakh (Rupees four lakh only) on Shree Kadi Nagarik Sahakari Bank Ltd., Kadi (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’, ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’, ‘Bank Finance against Shares and Debe
Apr 25, 2022
Reserve Bank of India imposes monetary penalty on Bank of Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated April 18, 2022, a monetary penalty of ₹1.12 Crore (Rupees One Crore and Twelve Lakh only) on Bank of Maharashtra (the bank) for non-compliance with certain directions issued by RBI on ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’ ‘Creation of a Central Repository of Large Common Exposures - Across Banks’ read with ‘Central Repository of Information on Large Credits (CRILC) – Revision
The Reserve Bank of India (RBI) has imposed, by an order dated April 18, 2022, a monetary penalty of ₹1.12 Crore (Rupees One Crore and Twelve Lakh only) on Bank of Maharashtra (the bank) for non-compliance with certain directions issued by RBI on ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’ ‘Creation of a Central Repository of Large Common Exposures - Across Banks’ read with ‘Central Repository of Information on Large Credits (CRILC) – Revision
Apr 25, 2022
RBI imposes monetary penalty on Rajkot Nagarik Sahakari Bank Limited, Rajkot
The Reserve Bank of India (RBI) has, by an order dated April 18, 2022, imposed a monetary penalty of ₹12.00 lakh (Rupees twelve lakh only) on Rajkot Nagarik Sahakari Bank Limited, Rajkot (the bank) for non-compliance with the direction issued by RBI on ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of Banking Regulation Act, 1949 (BR Act), taking i
The Reserve Bank of India (RBI) has, by an order dated April 18, 2022, imposed a monetary penalty of ₹12.00 lakh (Rupees twelve lakh only) on Rajkot Nagarik Sahakari Bank Limited, Rajkot (the bank) for non-compliance with the direction issued by RBI on ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of Banking Regulation Act, 1949 (BR Act), taking i
Apr 25, 2022
RBI imposes monetary penalty on The Haryana State Co-operative Apex Bank Ltd., Chandigarh
The Reserve Bank of India (RBI) has, by an order dated April 18, 2022, imposed a monetary penalty of ₹25,00,000/- (Rupees Twenty-Five Lakh only) on The Haryana State Co-operative Apex Bank Limited, Chandigarh (the bank) for non-compliance with RBI directions on Housing Finance. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949. This action is based on de
The Reserve Bank of India (RBI) has, by an order dated April 18, 2022, imposed a monetary penalty of ₹25,00,000/- (Rupees Twenty-Five Lakh only) on The Haryana State Co-operative Apex Bank Limited, Chandigarh (the bank) for non-compliance with RBI directions on Housing Finance. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949. This action is based on de
Apr 22, 2022
Reserve Bank of India imposes monetary penalty on Central Bank of India
The Reserve Bank of India (RBI) has imposed, by an order dated April 18, 2022 a monetary penalty of ₹36 lakh (Rupees Thirty six lakh only) on Central Bank of India (the bank) for non-compliance with certain directions issued by RBI on ‘Customer Protection–Limiting Liability of Customers in Unauthorised Electronic Banking Transactions’. This 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
The Reserve Bank of India (RBI) has imposed, by an order dated April 18, 2022 a monetary penalty of ₹36 lakh (Rupees Thirty six lakh only) on Central Bank of India (the bank) for non-compliance with certain directions issued by RBI on ‘Customer Protection–Limiting Liability of Customers in Unauthorised Electronic Banking Transactions’. This 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
Apr 18, 2022
Reserve Bank of India Imposes Monetary Penalty on Manappuram Finance Limited
The Reserve Bank of India (RBI) has imposed monetary penalty of ₹17,63,965/- (Rupees seventeen lakh sixty three thousand nine hundred and sixty five only) on Manappuram Finance Limited (the entity) for non-compliance with certain provisions of the Master Direction on Issuance and Operation of Prepaid Payment Instruments (PPIs) dated October 11, 2017 (updated as on February 28, 2020) and the Master Direction - Know Your Customer (KYC) Direction dated February 25, 2016
The Reserve Bank of India (RBI) has imposed monetary penalty of ₹17,63,965/- (Rupees seventeen lakh sixty three thousand nine hundred and sixty five only) on Manappuram Finance Limited (the entity) for non-compliance with certain provisions of the Master Direction on Issuance and Operation of Prepaid Payment Instruments (PPIs) dated October 11, 2017 (updated as on February 28, 2020) and the Master Direction - Know Your Customer (KYC) Direction dated February 25, 2016
Apr 11, 2022
Reserve Bank of India imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Shahdol (M.P.)
The Reserve Bank of India (RBl) has imposed, by an order dated April 06, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Jila Sahakari Kendriya Bank Maryadit, Shahdol (M.P.) (the bank) for contravention of/ non-compliance with the provisions of the Banking Regulation Act 1949 (the Act), the Depositor Education and Awareness Fund Scheme, 2014 (the Scheme) and directions issued by the RBI on Know Your Customer (KYC). This penalty has been imposed in exe
The Reserve Bank of India (RBl) has imposed, by an order dated April 06, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Jila Sahakari Kendriya Bank Maryadit, Shahdol (M.P.) (the bank) for contravention of/ non-compliance with the provisions of the Banking Regulation Act 1949 (the Act), the Depositor Education and Awareness Fund Scheme, 2014 (the Scheme) and directions issued by the RBI on Know Your Customer (KYC). This penalty has been imposed in exe
Apr 11, 2022
Reserve Bank of India imposes monetary penalty on The Nanded Merchant’s Co-operative Bank Ltd., Nanded (M.H)
The Reserve Bank of India (RBl) has imposed, by an order dated April 07, 2022, a monetary penalty of ₹0.50 lakh (Rupees Fifty Thousand only) on The Nanded Merchant’s Co-operative Bank Ltd., Nanded, Maharashtra (the bank) for contravention of/ non-compliance with directions issued by RBI on Exposure Norms and Statutory/Other Restrictions on UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Sec
The Reserve Bank of India (RBl) has imposed, by an order dated April 07, 2022, a monetary penalty of ₹0.50 lakh (Rupees Fifty Thousand only) on The Nanded Merchant’s Co-operative Bank Ltd., Nanded, Maharashtra (the bank) for contravention of/ non-compliance with directions issued by RBI on Exposure Norms and Statutory/Other Restrictions on UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Sec
Apr 11, 2022
Reserve Bank of India imposes monetary penalty on Mahesh Urban Co-operative Bank Ltd., Ahmedpur, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated April 06, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Mahesh Urban Co-operative Bank Ltd., Ahmedpur, Maharashtra (the bank) for contravention of/ non-compliance with the Directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47
The Reserve Bank of India (RBl) has imposed, by an order dated April 06, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Mahesh Urban Co-operative Bank Ltd., Ahmedpur, Maharashtra (the bank) for contravention of/ non-compliance with the Directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47
Apr 11, 2022
Reserve Bank of India imposes monetary penalty on Andarsul Urban Co-operative Bank Ltd., Andarsul (M.H)
The Reserve Bank of India (RBl) has imposed, by an order dated April 06, 2022, a monetary penalty of ₹1.50 lakh (Rupees One lakh Fifty Thousand only) on Andarsul Urban Co-operative Bank Ltd., Andarsul (Maharashtra) (the bank) for contravention of/ non-adherence with the Directions issued by RBI to Urban Co-operative Banks on Board of Directors and Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI
The Reserve Bank of India (RBl) has imposed, by an order dated April 06, 2022, a monetary penalty of ₹1.50 lakh (Rupees One lakh Fifty Thousand only) on Andarsul Urban Co-operative Bank Ltd., Andarsul (Maharashtra) (the bank) for contravention of/ non-adherence with the Directions issued by RBI to Urban Co-operative Banks on Board of Directors and Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI
Apr 08, 2022
Reserve Bank of India imposes monetary penalty on Axis Bank Ltd
The Reserve Bank of India (RBI) has imposed, by an order dated April 07, 2022, a monetary penalty of ₹93 Lakh (Rupees Ninety-three Lakh only) on Axis Bank Ltd. (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’, ‘Reserve Bank of India (Financial Services provided by Banks) Directions, 2016’, ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’, and ‘Levy of penal charges on non-
The Reserve Bank of India (RBI) has imposed, by an order dated April 07, 2022, a monetary penalty of ₹93 Lakh (Rupees Ninety-three Lakh only) on Axis Bank Ltd. (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’, ‘Reserve Bank of India (Financial Services provided by Banks) Directions, 2016’, ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’, and ‘Levy of penal charges on non-
Apr 08, 2022
Reserve Bank of India imposes monetary penalty on IDBI Bank Limited
The Reserve Bank of India (RBI) has imposed, by an order dated April 07, 2022, a monetary penalty of ₹90 Lakh (Rupees Ninety Lakh only) on IDBI Bank Limited (the bank) for non-compliance with the directions issued by RBI on “Frauds - classification and reporting by commercial banks and select FIs”, “Strengthening the Controls of Payment Ecosystem between Sponsor Banks and SCBs/UCBs as a Corporate Customer” and “Cyber Security Framework in Banks”. This penalty has been
The Reserve Bank of India (RBI) has imposed, by an order dated April 07, 2022, a monetary penalty of ₹90 Lakh (Rupees Ninety Lakh only) on IDBI Bank Limited (the bank) for non-compliance with the directions issued by RBI on “Frauds - classification and reporting by commercial banks and select FIs”, “Strengthening the Controls of Payment Ecosystem between Sponsor Banks and SCBs/UCBs as a Corporate Customer” and “Cyber Security Framework in Banks”. This penalty has been
Apr 04, 2022
Reserve Bank of India imposes monetary penalty on The Yashwant Cooperative Bank Limited, Phaltan
The Reserve Bank of India (RBI) has imposed, by an order dated March 22, 2022, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on The Yashwant Cooperative Bank Limited, Phaltan (the bank) for contravention of/ non-compliance with directions issued by RBI on Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with
The Reserve Bank of India (RBI) has imposed, by an order dated March 22, 2022, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on The Yashwant Cooperative Bank Limited, Phaltan (the bank) for contravention of/ non-compliance with directions issued by RBI on Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with
Apr 04, 2022
Reserve Bank of India imposes monetary penalty on Kokan Mercantile Co-operative Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated March 22, 2022, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Kokan Mercantile Co-operative Bank Ltd., Mumbai (the bank) for contravention of/ non-compliance with directions issued by RBI on Income Recognition, Asset Classification and Provisioning and Other Related Matters – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read
The Reserve Bank of India (RBI) has imposed, by an order dated March 22, 2022, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Kokan Mercantile Co-operative Bank Ltd., Mumbai (the bank) for contravention of/ non-compliance with directions issued by RBI on Income Recognition, Asset Classification and Provisioning and Other Related Matters – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read
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Page Last Updated on: July 22, 2024
