IDBI Bank Limited

RBI imposed a monetary penalty of Rs 31.80 lakh on IDBI Bank Limited for non-compliance with directions related to the Kisan Credit Card interest subvention scheme. The bank was found to have charged excess interest in certain KCC accounts.

IDBI Bank Limited must absorb the penalty of Rs 31.80 lakh; the release does not describe any operational restriction, but RBI may initiate other action separately. Customers in the affected KCC accounts were the underlying impacted group for the interest overcharge finding, though no restitution or customer-facing direction is stated here.

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

RBI has imposed a monetary penalty of Rs 36.3 lakh on IDBI Bank Limited for FEMA compliance lapses. The bank failed to undertake due diligence while processing inward remittances from a Foreign Currency Account.

IDBI Bank must absorb the monetary penalty and continue ensuring FEMA-compliant due diligence in processing inward remittances. The action does not invalidate customer transactions, but it signals heightened regulatory scrutiny over the bank’s foreign exchange compliance processes.

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

RBI imposed a Rs 90 lakh penalty on IDBI Bank Limited for regulatory non-compliance. The lapses involved fraud reporting, payment ecosystem controls, and cyber security requirements.

IDBI Bank must absorb the penalty and address the compliance gaps identified by RBI. The decision does not invalidate customer transactions, but it signals supervisory concern over fraud reporting, cyber controls, and payment-ecosystem safeguards.

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

RBI has taken IDBI Bank Limited out of the Prompt Corrective Action Framework after reviewing its performance and noting compliance with PCA parameters. The removal is subject to conditions and continuous monitoring.

IDBI Bank is no longer under the PCA restriction, so the prior supervisory constraints are lifted. The bank remains subject to the stated conditions and continuous monitoring by RBI, and must continue complying with minimum capital, Net NPA and leverage ratio requirements.

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 HDFC Bank, IDBI Bank, and Kotak Mahindra Bank. The penalties were for non-compliance with KYC/AML directions.

Each of the three banks must absorb the monetary penalty and address the compliance deficiencies that led to the action. The release does not impose an operational restriction, but it signals regulatory scrutiny over KYC/AML controls and related compliance processes.

• 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 bulk member.

RBI imposed a monetary penalty of ₹30 million on IDBI Bank Limited for non-compliance with IRAC norms. The action was taken under the Banking Regulation Act for regulatory deficiencies.

IDBI Bank Limited must absorb the monetary penalty and address the compliance deficiencies identified by RBI. The action does not directly restrict operations, but it signals regulatory scrutiny of the bank's adherence to IRAC norms and may affect supervisory expectations.

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

RBI imposed penalties on 12 banks in connection with scrutiny of accounts related to M/s. Deccan Chronicle Holdings Ltd. The banks were found to have violated RBI instructions/directions/guidelines.

Each named bank must bear the imposed penalty; there is no indication of an operational restriction or cancellation. The action signals regulatory non-compliance tied to lending/account handling in relation to the borrower, but the release says it does not determine the validity of any transaction or agreement between the banks and the borrower.

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

This RBI action affected 12 entities. This profile is linked as bulk member.

RBI imposed monetary penalties on six banks for violations of KYC/AML-related instructions. The banks were found to have lapses in customer identification, risk profiling, KYC updation and CTR filing.

The penalised banks must absorb the monetary sanction and address the compliance shortcomings identified by RBI, especially around KYC/AML controls, customer due diligence, and transaction monitoring. The action has no stated forward restriction on operations, but it signals heightened supervisory scrutiny and the need for stronger internal controls. Depositors and customers are indirectly affected through tighter compliance processes and monitoring.

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

This RBI action affected 6 entities. This profile is linked as bulk member.