Citibank N.A

RBI imposed a monetary penalty of Rs 3.2 lakh on Citibank N.A. for FEMA contraventions relating to due diligence in processing inward remittances.

Citibank N.A. must absorb the penalty and remain compliant with FEMA due-diligence requirements in future inward-remittance processing. The action does not itself restrict operations, but it underscores supervisory scrutiny over cross-border remittance controls and customer-account processing.

• Section 11(3) of FEMA, 1999
• Section 10 (4) of FEMA, 1999

RBI has imposed a monetary penalty of Rs 36.28 lakh on Citibank N.A. for contravention of reporting directions related to Liberalized Remittance Scheme transactions.

Citibank N.A. must absorb the monetary penalty and address the compliance deficiencies identified by RBI, particularly in reporting of LRS transactions. The action has no stated restriction on ongoing business operations, but it signals continued regulatory scrutiny of the bank’s reporting controls.

• Section 11(3) of FEMA, 1999

RBI imposed a ₹39 lakh penalty on Citibank N.A. for regulatory non-compliance. The violations involved delayed reporting of large exposure breaches and delayed upload of rectified credit information data.

Citibank N.A. must absorb the monetary penalty and continue complying with RBI’s Large Exposures Framework and credit-information reporting requirements. The order does not impose an operating restriction, but it signals that further supervisory action could still follow if RBI chooses to proceed on the same or related compliance issues.

• Section 47 A(1)(c) read with Section 46(4)(i) 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 ₹5 crore monetary penalty on Citibank N.A. for regulatory contraventions identified in its supervisory inspection. The lapses involved deposit fund remittance, staff remuneration, and outsourcing of AML alert handling.

Citibank N.A. must absorb the financial penalty and ensure remedial compliance controls over depositor fund transfers, employee remuneration practices, outsourcing governance, and AML/KYC processes. The action does not itself impose an operating restriction, but it signals heightened supervisory scrutiny of the bank’s compliance framework.

• Section 26A of the Banking Regulation Act, 1949
• Paragraph 3 of ‘The Depositor Education and Awareness Fund Scheme, 2014 – Section 26A of Banking Regulation Act, 1949 – Operational Guidelines’
• Section 10(1)(b)(ii) of the Banking Regulation Act, 1949

+1 more in the case brief

RBI imposed a Rs 4 crore penalty on Citibank N.A. for regulatory contraventions and non-compliance with multiple RBI directions. The action followed inspection findings and a show-cause process.

Citibank N.A. must absorb the financial penalty and address the compliance lapses identified by RBI. The order does not invalidate customer transactions, but it signals heightened regulatory scrutiny and the need for stronger controls over lending-related checks, current-account onboarding, CRILC verification, and compliance reporting.

• Section 10 (1) (b) (ii) of Banking Regulation Act, 1949
• Section 47 A (1) (c) read with Section 46 (4) (i) of the Act

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 a Rs 25 lakh monetary penalty on Citibank N.A. for KYC/AML violations. The lapses while opening accounts were linked to a fraud at its Gurgaon branch.

Citibank N.A. must absorb the monetary penalty; the release does not mention any additional operational restriction. The underlying compliance lapse concerns account-opening controls and KYC/AML adherence, with implications for the bank’s onboarding and anti-fraud processes.

• Section 47(A)(1)(b) of the Banking Regulation Act, 1949