RBL Bank Limited

RBI imposed a monetary penalty of ₹61.40 lakh on RBL Bank Limited for KYC non-compliance. The findings involved opening some credit card accounts without a prescribed OVD and using multiple customer IDs instead of a UCIC.

RBL Bank must absorb the monetary penalty and remain mindful of compliance expectations under RBI’s KYC framework. The order itself does not restrict banking operations, but it signals supervisory scrutiny and the possibility of further action for related compliance deficiencies.

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

RBI imposed a monetary penalty of Rs 64 lakh on RBL Bank Limited for regulatory non-compliance involving shareholder approval requirements. The lapses related to Form B declarations and fit-and-proper status certificates for a major shareholder.

RBL Bank must bear the monetary penalty and ensure stricter compliance with RBI's shareholder approval and fit-and-proper reporting requirements going forward. The order does not state any restriction on business operations, but it signals continued supervisory scrutiny of the bank's compliance processes. The direct impact is on the bank, while the underlying concern relates to disclosures and certifications concerning a major shareholder.

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

RBI imposed a monetary penalty of Rs 2.2725 crore on RBL Bank Limited for multiple compliance failures. The lapses related mainly to internal ombudsman handling, fair practices, outsourcing controls, and recovery agent conduct.

RBL Bank must absorb the monetary penalty and strengthen compliance controls around grievance handling, recovery-agent oversight, onboarding checks, and borrower disclosures. The order does not invalidate customer transactions, but it signals RBI scrutiny of the bank’s customer-protection and outsourcing practices going forward.

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

RBI imposed a monetary penalty of ₹2 crore on RBL Bank Limited. The penalty was for contravention of deposit-interest directions and non-compliance with board composition requirements under the Banking Regulation Act.

RBL Bank Limited must absorb the ₹2 crore penalty, but the release does not announce any restriction on its business operations. The action is primarily punitive and compliance-focused, with no stated direct impact on customers beyond the regulatory finding.

• section 28 (h) of the Reserve Bank of India (Interest Rate on Deposits) Directions, 2016
• clause (b) of sub-section (2) of section 10A of the Banking Regulation Act, 1949
• section 47 A (1) (c) read with section 46 (4) (i) of the Act

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.