Bank of India

RBI has imposed a ₹58.50 lakh penalty on Bank of India for regulatory non-compliance. The issues related to charges collected on certain priority sector loans and interest not paid on some term deposits after maturity.

Bank of India must absorb the monetary penalty and address the compliance gaps identified by RBI. The order does not itself impose an operational restriction, but it signals regulatory scrutiny over lending charges and deposit interest practices, with possible follow-on action if RBI deems further enforcement necessary.

• section 47A(1)(c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949

RBI imposed a monetary penalty of Rs 1 crore on Bank of India for non-compliance with depositor-fund transfer requirements. The bank had failed to transfer eligible amounts to the Depositor Education and Awareness Fund on time.

Bank of India must bear the Rs 1 crore penalty, and the finding highlights a continuing compliance obligation to transfer eligible amounts to the Depositor Education and Awareness Fund on time. The order does not state any operational restriction on the bank, but RBI notes the penalty is without prejudice to any other action it may initiate.

• Section 26A of the Banking Regulation Act, 1949
• Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the BR Act

RBI imposed a monetary penalty of Rs 1.4076 crore on Bank of India for multiple regulatory compliance lapses. The violations covered deposit interest, customer service charges, lending-rate benchmarking/resetting, CRILC reporting, and CIC reporting.

Bank of India must absorb the monetary penalty and address the compliance lapses identified by RBI. The order does not invalidate customer transactions, but it signals continued regulatory scrutiny and possible further action by RBI if deficiencies persist.

• section 47 A (1) (c) read with sections 46 (4) (i) and 51(1) of the Banking Regulation Act, 1949
• section 25(1)(iii) read with section 23(4) of the Credit Information Companies (Regulation) Act, 2005

RBI imposed a ₹70 lakh penalty on Bank of India for KYC and compliance-function lapses. The bank had not assigned UCICs to many customers within the required timelines.

Bank of India must absorb the monetary penalty and address the compliance gaps identified by RBI, especially around customer identification and adherence to KYC-related controls. The order does not itself restrict operations or customer services, but it signals heightened supervisory scrutiny over the bank's compliance function.

• section 47 A (1) (c) read with section 46 (4) (i) and Section 51 (1) of the Banking Regulation Act, 1949

RBI imposed a Rs 4 crore penalty on Bank of India for multiple regulatory non-compliances. The breaches related to KYC/AML compliance, DEA Fund transfers, fraud reporting, and sale/reporting of a fraudulent asset.

Bank of India must bear the penalty and the action serves as a regulatory censure for the identified compliance failures. There is no stated operational restriction, but the bank remains expected to strengthen controls around KYC/AML, DEA Fund transfers, fraud reporting, and handling/reporting of fraudulent assets.

• Section 47 A (1) (c)
• Section 46 (4) (i)
• Section 51 (1) of the Banking Regulation Act, 1949

RBI imposed a ₹5 crore penalty on Bank of India for non-compliance with multiple regulatory directions. The action followed inspection findings and related show-cause proceedings.

Bank of India must absorb the financial penalty and address the compliance gaps identified by RBI. The order does not pronounce on the validity of customer transactions, but it signals heightened supervisory scrutiny over the bank's compliance with prudential, current-account, and fraud-reporting norms.

• section 47A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banking Regulation Act, 1949

RBI imposed monetary penalties on seven banks for non-compliance with multiple RBI directions. The action was taken under the Banking Regulation Act after scrutiny and show-cause proceedings.

Each named bank must absorb the monetary penalty and address the compliance weaknesses identified by RBI. The order does not invalidate customer transactions, but it signals supervisory concerns and may lead to tighter internal controls and future scrutiny.

• Section 47A(1)(c)
• Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949

This RBI action affected 7 entities. This profile is linked as bulk member.

RBI imposed monetary penalties on Bank of India, Oriental Bank of Commerce, and Punjab National Bank for non-compliance with RBI directions. The penalties were issued on January 31, 2019.

Each of the three banks must absorb the monetary penalty and address the compliance deficiencies identified by RBI. The action does not invalidate customer transactions, but it signals supervisory concerns about internal monitoring, information-sharing, and account restructuring compliance.

• Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949

This RBI action affected 3 entities. This profile is linked as primary.

RBI imposed a ₹1 crore penalty on Bank of India for delayed fraud reporting. The action was taken under the Banking Regulation Act for breach of RBI fraud-reporting instructions.

Bank of India must absorb the ₹1 crore penalty; the action does not indicate any operational restriction, but it records a compliance breach related to fraud reporting. The underlying reporting expectations remain in force for the bank.

• Section 47A (1) (c) read with Section 46 (4) (i) of the Banking Regulation Act, 1949

RBI imposed monetary penalties on 13 banks for KYC/AML and related regulatory violations. The scrutiny also found issues around account monitoring, STR filing, and FEMA-related compliance.

The penalised banks must absorb the monetary penalties and address the compliance gaps identified by the RBI, particularly around KYC, transaction monitoring, STR reporting, and FEMA-related controls. The eight other banks named in the release were not penalised, but were advised to strengthen measures and periodically review compliance processes on an ongoing basis.

• Section 47(A) (1) (c) read with Section 46(4)(i) of the Banking Regulation Act, 1949

This RBI action affected 21 entities. This profile is linked as bulk member.

RBI imposed monetary penalties on Bank of Maharashtra, Dena Bank and Oriental Bank of Commerce for KYC/AML and related compliance violations. Eight other public sector banks were cautioned to strengthen controls.

The three penalised banks must absorb the monetary penalty and address the compliance gaps identified by RBI, especially around KYC/AML, transaction monitoring, RTGS controls, and FD/OD diligence. The eight cautioned banks face no monetary penalty in this release, but they are expected to strengthen controls and periodically review compliance processes going forward.

• Section 47(A) (1) (c) read with Section 46(4)(i) of the Banking Regulation Act, 1949

This RBI action affected 11 entities. This profile is linked as bulk member.

RBI imposed monetary penalties on 22 banks for various KYC/AML and related compliance violations. The release also says seven other banks were only cautioned, not fined.

Each of the 22 named banks must bear the monetary penalty and face the compliance finding recorded by RBI. The action does not impose an ongoing operational restriction, but it signals supervisory concerns over KYC/AML and transaction-monitoring controls.

• Section 47(A)(1)(c) of the Banking Regulation Act, 1949
• Section 46(4)(i) of the Banking Regulation Act, 1949

This RBI action affected 22 entities. This profile is linked as bulk member.