Punjab National Bank

RBI imposed a monetary penalty of Rs 29.60 lakh on Punjab National Bank for non-compliance with customer service directions. The bank was found to have levied penal charges for non-maintenance of minimum balance in inoperative accounts.

Punjab National Bank must absorb the monetary penalty and address the compliance lapse identified by RBI. The release does not describe any operational restriction, but it signals continued supervisory scrutiny and the possibility of further action if similar non-compliance persists.

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

RBI imposed a Rs 1.318 crore penalty on Punjab National Bank for compliance lapses involving lending restrictions and KYC record preservation. The bank had sanctioned loans against government receivables and failed to retain customer identification/address records in some accounts.

Punjab National Bank must absorb the penalty and address the compliance weaknesses identified by RBI. The decision does not itself invalidate the transactions, but it signals continued supervisory scrutiny and the possibility of further regulatory action if similar lapses recur. Customers and counterparties are indirectly affected through tighter compliance expectations around lending documentation and KYC record retention.

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

RBI imposed a monetary penalty of Rs 72 lakh on Punjab National Bank for regulatory non-compliance. The breaches related to interest-rate directions and customer service requirements.

Punjab National Bank must absorb the monetary penalty and address the compliance gaps identified by RBI. The action does not itself restrict operations, but it signals ongoing supervisory scrutiny over customer service, deposit-interest practices, and loan disclosure requirements affecting customers and account holders.

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

RBI imposed a monetary penalty of ₹1.80 crore on Punjab National Bank. The penalty was for breaching section 19(2) of the Banking Regulation Act by holding excess shares in borrower companies as pledgee.

Punjab National Bank must pay the monetary penalty, and the action signals regulatory scrutiny over compliance with shareholding limits in borrower companies. The release does not indicate any additional operational restriction beyond the penalty.

• sub-section (2) of section 19 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 Rs 2 crore penalty on Punjab National Bank for regulatory non-compliance. The issues involved delayed fraud reporting and inaccurate/integrity-compromised submissions to CRILC/RBI.

Punjab National Bank must absorb the monetary penalty and ensure future compliance with RBI's fraud reporting and large exposure reporting requirements. The action has no direct operational restriction on customers, but it signals closer supervisory scrutiny over regulatory reporting controls and data integrity.

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

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 four banks for non-compliance with KYC/AML directions and rules on opening current accounts. The penalties were levied after show-cause notices and hearings.

The four banks must absorb the penalty and continue operating, but the order records regulatory non-compliance. The action has no stated customer-level transaction invalidation, and RBI explicitly says it is not pronouncing on the validity of any transaction or agreement entered into with customers.

• Section 47A(1)(c)
• 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 monetary penalty of ₹20 million on Punjab National Bank for non-compliance with directions on SWIFT-related operational controls. The action was taken under the Banking Regulation Act for regulatory deficiencies.

Punjab National Bank must absorb the monetary penalty and address the regulatory shortcomings identified by RBI, especially around SWIFT-related operational controls. The order does not invalidate customer transactions, but it signals supervisory concern over compliance controls and may affect the bank's regulatory standing.

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

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 13 banks for KYC/AML and related regulatory violations. The scrutiny also found issues around account monitoring, STR filing, and FEMA-related compliance.

The penalised banks must absorb the monetary penalties and address the compliance gaps identified by the RBI, particularly around KYC, transaction monitoring, STR reporting, and FEMA-related controls. The eight other banks named in the release were not penalised, but were advised to strengthen measures and periodically review compliance processes on an ongoing basis.

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

This RBI action affected 21 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.