Central Bank of India

RBI imposed a ₹63.60 lakh penalty on Central Bank of India for KYC and BSBDA-related non-compliance. The bank allegedly delayed uploading KYC records and opened duplicate BSBD accounts for some customers.

Central Bank of India must absorb the monetary penalty and address the supervisory lapses identified by RBI. Forward-looking, the bank is expected to strengthen KYC record-upload timelines and controls around BSBDA account opening to avoid repeat findings; the action does not itself bar operations or affect customer accounts directly.

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

RBI has imposed a monetary penalty of Rs 1.455 crore on Central Bank of India. The action was taken for non-compliance with RBI directions on loans and advances and customer protection in unauthorised electronic banking transactions.

Central Bank of India must absorb the monetary penalty and may also face any further action RBI considers appropriate. The release does not impose an operational restriction, but it signals compliance deficiencies that remain relevant for the bank’s lending practices and customer grievance handling.

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

RBI imposed a monetary penalty of ₹84.50 lakh on Central Bank of India for regulatory non-compliance. The issues related to fraud reporting and customer service charges.

Central Bank of India must absorb the monetary penalty and address the compliance gaps identified by RBI. The action does not itself impose an operating restriction, but it signals supervisory findings on fraud reporting and customer charge practices that the bank must correct going forward.

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

RBI imposed a ₹36 lakh penalty on Central Bank of India for non-compliance with customer protection directions on unauthorised electronic banking transactions.

Central Bank of India must bear the monetary penalty; the release does not announce any operational restriction, but it records a regulatory breach relating to customer compensation timelines for unauthorised electronic banking transactions. The finding may affect the bank's compliance oversight and future supervisory scrutiny.

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

RBI imposed monetary penalties on fourteen banks for various compliance failures. The penalties ranged from Rs 50 lakh to Rs 1 crore.

All fourteen banks must absorb the monetary penalty and address the cited compliance weaknesses. The action has no stated direct effect on customer transactions, but it signals supervisory scrutiny of lending, exposure reporting, and statutory compliance practices.

• Section 19(2) of Banking Regulation Act, 1949
• Section 20 (1) of Banking Regulation Act, 1949
• section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1), of the Banking Regulation Act, 1949

This RBI action affected 14 entities. This profile is linked as bulk member.

RBI imposed a ₹50 lakh penalty on Central Bank of India for non-compliance with its housing loan directions. The action followed an examination that found deficiencies in compliance.

Central Bank of India must absorb the penalty and ensure future compliance with RBI’s housing-loan directions. The release does not describe any operational restriction on lending, but it signals heightened compliance expectations for the bank’s housing loan disbursal practices.

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

RBI imposed monetary penalties on 36 banks for non-compliance with SWIFT-related operational control directions. The penalties were issued by orders dated January 31 and February 25, 2019.

The penalized banks must absorb the financial penalty and continue improving compliance with SWIFT-related controls. RBI also stated it will continue to closely monitor adherence to these controls on an ongoing basis; the action does not pronounce on the validity of customer transactions or agreements.

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

This RBI action affected 36 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.