Indian Overseas Bank

RBI imposed a ₹31.80 lakh penalty on Indian Overseas Bank for non-compliance with Priority Sector Lending directions. The violation involved collection of loan-related charges in certain small PSL accounts.

Indian Overseas Bank must absorb the penalty and address the compliance gap in its PSL charging practices. The order does not itself impose an operational restriction, but it signals potential further regulatory scrutiny or additional action by RBI for the same lapses.

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

RBI imposed a monetary penalty of ₹63.60 lakh on Indian Overseas Bank for non-compliance with directions on collateral-free agricultural loans and lending to the MSME sector.

Indian Overseas Bank must absorb the monetary penalty and ensure future lending practices comply with RBI directions on collateral-free agricultural loans and MSME lending. The order does not invalidate customer transactions, but it signals continued supervisory scrutiny and the possibility of further regulatory action if lapses recur.

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

RBI imposed a ₹1 crore penalty on Indian Overseas Bank for violating its directions on loans and advances. The bank sanctioned term loans without adequate due diligence and in place of budgetary resources for projects.

Indian Overseas Bank must bear the ₹1 crore penalty and the finding records a compliance breach under RBI lending restrictions. The order does not invalidate customer transactions, but it signals regulatory scrutiny over future project lending and due diligence practices.

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

RBI imposed a ₹2.20 crore penalty on Indian Overseas Bank for multiple compliance breaches identified in its supervisory inspection. The issues included reserve fund transfer shortfall, NPA divergence, deposit interest mispricing, and ATM security control lapses.

Indian Overseas Bank must absorb the monetary penalty and address the supervisory deficiencies identified by RBI. The action does not invalidate customer transactions, but it signals required remediation on reserve fund transfers, NPA reporting/classification practices, deposit pricing compliance, and ATM cybersecurity controls.

• sub-section (1) of section 17 of the Banking Regulation Act, 1949
• section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Act

RBI imposed a penalty of ₹57.50 lakh on Indian Overseas Bank for multiple regulatory non-compliances. The lapses related to fraud reporting, CRILC data reporting, stressed assets resolution, and external benchmark based lending.

Indian Overseas Bank must absorb the monetary penalty and address the identified compliance weaknesses in fraud reporting, credit information reporting, stressed asset resolution processes, and lending-rate linkage practices. The order does not invalidate customer contracts, but it signals continued supervisory scrutiny and a need for stronger internal controls and regulatory compliance going forward.

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

RBI removed Indian Overseas Bank from Prompt Corrective Action restrictions. The move followed a review showing the bank was not breaching PCA parameters and had committed to maintain required norms.

The PCA restrictions are withdrawn, so Indian Overseas Bank is no longer subject to the operational constraints of the framework. The bank must continue meeting regulatory capital, net NPA and leverage requirements and remain under ongoing monitoring, but the release does not impose a new adverse restriction on customers or counterparties.

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 monetary penalties on seven banks for non-compliance with multiple RBI directions. The action was taken under the Banking Regulation Act after scrutiny and show-cause proceedings.

Each named bank must absorb the monetary penalty and address the compliance weaknesses identified by RBI. The order does not invalidate customer transactions, but it signals supervisory concerns and may lead to tighter internal controls and future scrutiny.

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

This RBI action affected 7 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 monetary penalties on four banks, including Allahabad Bank, Andhra Bank, Bank of Maharashtra, and Indian Overseas Bank. The penalties were for non-compliance with several RBI directions.

The four banks must absorb the monetary penalties and address the compliance deficiencies identified by RBI. The action does not itself restrict operations, but it signals continued supervisory scrutiny over their internal controls and regulatory adherence.

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

This RBI action affected 4 entities. This profile is linked as bulk member.

RBI imposed a ₹20 million monetary penalty on Indian Overseas Bank for non-compliance with KYC directions. The bank's violations were found substantiated after examination of records and submissions.

Indian Overseas Bank must bear the monetary penalty, but the release does not describe any operational restriction or licence impact. The action serves as a compliance enforcement measure and does not itself invalidate customer transactions or agreements.

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

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.