Punjab and Sind Bank

RBI has imposed a ₹1 crore penalty on Punjab and Sind Bank for non-compliance with lending restrictions. The bank allegedly financed projects in substitution of budgetary resources without proper due diligence.

Punjab and Sind Bank must bear the ₹1 crore penalty, but the release does not impose any new operational restriction or suspension. The finding is a compliance enforcement action and does not invalidate customer transactions, though it highlights lending-compliance expectations for the bank.

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

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 ₹25 lakh penalty on Punjab and Sind Bank for non-compliance with cyber security directions. The bank’s reported cyber incidents and forensic findings led RBI to conclude that certain regulatory breaches were substantiated.

Punjab and Sind Bank must absorb the ₹25 lakh penalty and address the compliance gaps identified by RBI, especially in cyber security controls and incident handling. The action does not state any business restriction on operations, but it signals heightened regulatory scrutiny over the bank’s cyber resilience and reporting processes.

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

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.