Federal Bank Ltd

RBI imposed a monetary penalty of Rs 27.30 lakh on Federal Bank Limited. The penalty was for non-compliance with RBI's directions on interest rate on deposits, including opening savings deposit accounts in the name of ineligible entities.

Federal Bank Limited must bear the monetary penalty; the order does not impose a continuing operational restriction. RBI also noted that the penalty is without prejudice to any other action that may be initiated against the bank.

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

RBI imposed a ₹30 lakh penalty on Federal Bank Ltd. for KYC direction violations. The bank issued certain demand drafts of ₹50,000 and above without the purchaser's name on them.

Federal Bank Ltd. must bear the monetary penalty and comply more carefully with KYC-related directions going forward. The order does not invalidate customer transactions, but it signals regulatory non-compliance and may prompt tighter internal controls over demand draft issuance.

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

RBI imposed a Rs 5.72 crore penalty on Federal Bank Ltd. for non-compliance with its Financial Services provided by Banks Directions, 2016. The breach related to incentives paid to staff involved in insurance broking/corporate agency services.

Federal Bank must absorb the monetary penalty and address the compliance gap identified by RBI. The order does not invalidate customer transactions, but it signals supervisory scrutiny over the bank’s insurance distribution arrangements and staff incentive practices.

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

RBI imposed monetary penalties on eleven banks for delayed or non-reporting of frauds under its fraud classification and reporting directions.

The affected banks must absorb the monetary penalties and are put on notice for lapses in fraud reporting and regulatory compliance. The action has no stated withdrawal or operational ban, but it underscores expectations for timely fraud reporting to RBI going forward.

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

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

RBI imposed a ₹50 million penalty on Federal Bank Limited for regulatory non-compliance. The violations covered statutory investment limits and multiple RBI reporting, customer compensation, and KYC/AML requirements.

Federal Bank Limited must absorb the financial penalty and address the compliance deficiencies identified by RBI. The order does not by itself restrict operations, but it signals heightened regulatory scrutiny over its reporting, customer complaint handling, and AML/KYC controls.

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

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 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.