Indian Bank

RBI imposed a ₹1.614 crore penalty on Indian Bank for regulatory non-compliance. The bank violated provisions of the BR Act and RBI directions relating to interest rate benchmarking, KCC loans, MSME lending, and transfer to the DEAF.

Indian Bank must absorb the monetary penalty and continue operating under RBI’s regulatory framework. The order does not itself invalidate customer transactions, but it signals compliance deficiencies and leaves open the possibility of any other action RBI may initiate separately.

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

RBI imposed a monetary penalty of Rs 1.62 crore on Indian Bank. The bank was cited for non-compliance with RBI directions relating to loans and advances, KYC, and interest on deposits.

Indian Bank must absorb the monetary penalty and continue to strengthen compliance controls around lending due diligence, KYC/customer due diligence, and deposit-account eligibility. The order does not invalidate customer transactions, but it signals regulatory scrutiny and the need for tighter internal controls 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 Rs 55 lakh penalty on Indian Bank for KYC non-compliance. The bank failed to carry out required customer due diligence while opening an account for a sole proprietary firm.

Indian Bank must absorb the monetary penalty and ensure future compliance with KYC/customer due diligence requirements. The order does not state a suspension or business restriction, but it highlights regulatory expectations for onboarding controls and AML/KYC compliance going forward.

• section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banking Regulation Act, 1949
• Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016

RBI imposed a ₹32 lakh penalty on Indian Bank for non-compliance with its fraud classification and reporting directions. The bank was found to have delayed flash reports in some instances.

Indian Bank must bear the monetary penalty, but the release does not announce any operating restriction or cancellation. The finding concerns past reporting compliance under RBI's fraud reporting directions and has no stated forward restriction beyond the penalty itself.

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

+1 more in the case brief

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 ₹1 crore monetary penalty on Indian Bank for regulatory non-compliance. The issues included window-dressing of the balance sheet and classification/reporting of frauds.

Indian Bank must absorb the penalty and continue complying with RBI’s directions on balance-sheet presentation and fraud classification/reporting. The action does not state any operational restriction, but it underscores ongoing supervisory expectations and compliance obligations.

• 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 Bank of Baroda and Indian Bank for compliance lapses. The issues involved KYC/AML norms and, for Bank of Baroda, additional directions on cheque collection, fraud reporting, and customer record preservation.

Both banks face monetary penalties and regulatory censure for compliance deficiencies. The action does not itself impose an operating restriction, but it underscores the need for stronger controls around account opening, customer due diligence, fraud reporting, and record preservation.

This RBI action affected 2 entities. This profile is linked as bulk member.

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 ₹10 million penalty on Indian Bank for compliance breaches. The action relates to cyber security framework requirements and fraud classification/reporting directions.

Indian Bank must absorb the monetary penalty and strengthen compliance with RBI cyber security and fraud reporting requirements. The order does not itself restrict ongoing banking operations, but it signals supervisory concern and may require internal remediation to avoid future enforcement.

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

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.