Oriental Bank of Commerce

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 Bank of India, Oriental Bank of Commerce, and Punjab National Bank for non-compliance with RBI directions. The penalties were issued on January 31, 2019.

Each of the three banks must absorb the monetary penalty and address the compliance deficiencies identified by RBI. The action does not invalidate customer transactions, but it signals supervisory concerns about internal monitoring, information-sharing, and account restructuring compliance.

• 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 monetary penalties on Bank of Maharashtra, Dena Bank and Oriental Bank of Commerce for KYC/AML and related compliance violations. Eight other public sector banks were cautioned to strengthen controls.

The three penalised banks must absorb the monetary penalty and address the compliance gaps identified by RBI, especially around KYC/AML, transaction monitoring, RTGS controls, and FD/OD diligence. The eight cautioned banks face no monetary penalty in this release, but they are expected to strengthen controls and periodically review compliance processes going forward.

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

This RBI action affected 11 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.