Punjab & Sind Bank

RBI imposed a ₹68.20 lakh penalty on Punjab & Sind Bank for non-compliance with CRILC reporting and BSBDA directions. The bank was found to have missed reporting certain large borrowers and to have allowed certain BSBDA holders to open savings accounts.

Punjab & Sind Bank must absorb the penalty and continue to tighten its compliance controls around CRILC reporting and BSBDA account-opening restrictions. The order does not invalidate customer transactions, but it signals further supervisory action could follow if compliance deficiencies persist.

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

RBI has imposed a Rs 1 crore monetary penalty on Punjab & Sind Bank. The penalty was for non-compliance with BR Act Section 26A and RBI’s related Depositor Education and Awareness Fund guidelines.

Punjab & Sind Bank must absorb the monetary penalty; the release does not describe any operational restriction on its banking activities. The action is mainly compliance-related and does not itself alter customer accounts or transactions, though it signals RBI’s enforcement response to deficiencies in crediting unclaimed amounts to the Depositor Education and Awareness Fund.

• Section 26A(2) of the Banking Regulation Act, 1949
• Section 47A(1)(c)
• Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949

RBI imposed a ₹27.50 lakh penalty on Punjab & Sind Bank for violating its external benchmark based lending directions.

Punjab & Sind Bank must absorb the penalty and address compliance gaps in its lending-rate implementation. The order does not invalidate customer transactions, but it signals supervisory findings that may require tighter adherence to RBI’s external benchmark lending rules going forward.

• 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 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 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.