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RBI revoked a payment-system operator’s authorisation in 2022

4th busiestof 12 comparable periods· top 33%

337 RBI action records published between 1 January 2022 and 31 December 2022: 271 fresh actions, 64 extensions of existing orders, 2 restrictions lifted and 218 monetary-penalty actions with an amount stated, totalling ₹40.71 crore. That is 337 records against 273 over the same 365 days of 2021, and ₹40.71 crore of disclosed penalty value against ₹69.51 crore.

Period complete. 365 days covered.

Action records
337

273 in 2021

Disclosed penalties
₹40.71 cr

₹69.51 cr in 2021

Severe actions · S4–S5
135

133 · 48.7% previously

Orders in force
42

158 expiring in the next window

When Action Arrived

Published action records across the covered window, split into RegOversight severity bands. Empty intervals remain visible.

RBI action records by publication interval and severity band
IntervalTotalS0–S1 · lifted / lowS2–S3 · moderate / highS4–S5 · major / severe
Jan201136
Feb21939
Mar281288
Apr217410
May231715
Jun16538
Jul4410628
Aug3461414
Sept3212119
Oct256109
Nov2910712
Dec4422157

What Stood Out

Each finding is grounded in precomputed metrics. Open it to inspect the supporting numbers and the limits of the claim.

01

Banks accounted for nearly all of the penalty-value decline

Disclosed penalty value fell by ₹28.80 crore. Bank penalties were ₹18.60 crore against ₹46.68 crore previously, accounting for 97.5% of the decline.

02

Severe actions made up a smaller share of the total

There were 135 severe actions, or 40.1% of the total, against 133 and 48.7% previously. Cancellation actions rose to 28 from 13.

03

The action record covered more declared entities than events

The 337 action records declared 374 entities. The largest order declared 32 entities, including an order covering 23 entities.

04

The penalty distribution shifted toward smaller disclosed amounts

The median penalty was ₹2.0 lakh against ₹5.0 lakh previously. The maximum was ₹5.72 crore against ₹10.00 crore, while the top five accounted for 34.7% against 36.0% previously.

What RBI Did and Where It Landed

Amber bars show the current mix. The fine marker shows the comparable earlier period, so a change is visible rather than merely asserted.

Action mix

Primary recorded action category.

  1. Monetary penalty218 · 64.7%

    Previous 164 · 60.1%

  2. Business restriction88 · 26.1%

    Previous 85 · 31.1%

  3. Licence cancellation28 · 8.3%

    Previous 13 · 4.8%

  4. Action lifted2 · 0.6%

    Previous 8 · 2.9%

  5. Directive / prohibition1 · 0.3%

    Previous 1 · 0.4%

Lifecycle

Fresh actions, extensions and withdrawals.

  1. Fresh action271 · 80.4%

    Previous 191 · 70%

  2. Extension64 · 19%

    Previous 74 · 27.1%

  3. Lifted / withdrawn2 · 0.6%

    Previous 8 · 2.9%

Entity types

Action records by regulated-entity class, not entities affected.

  1. Co-operative bank283 · 84%

    Previous 218 · 79.9%

  2. NBFC24 · 7.1%

    Previous 18 · 6.6%

  3. Bank19 · 5.6%

    Previous 28 · 10.3%

  4. Payment entity10 · 3%

    Previous 9 · 3.3%

  5. Other1 · 0.3%

Why RBI acted

Overlapping themes; one action may carry several reasons.

  1. Reporting & disclosure173 · 51.3%

    Previous 131 · 48%

  2. Capital & exposure norms111 · 32.9%

    Previous 85 · 31.1%

  3. Lending norms76 · 22.6%

    Previous 43 · 15.8%

  4. Governance & oversight70 · 20.8%

    Previous 68 · 24.9%

  5. Customer protection65 · 19.3%

    Previous 53 · 19.4%

  6. Other60 · 17.8%

    Previous 61 · 22.3%

Defining Actions

Up to four non-duplicative actions selected for monetary impact, breadth, severity or relief. Quiet periods may show fewer.

  1. RBI imposes monetary penalty on Federal Bank Limited

    Largest disclosed penaltyS4 High
    8 Jul 2022₹5.72 croremonetary penalty

    Federal Bank Ltd.

    Federal Bank Ltd. received the largest disclosed penalty in the period for non-compliance with RBI’s Financial Services provided by Banks Directions, 2016. The bank failed to ensure that no incentive was paid to staff engaged in insurance broking/corporate agency services by the insurance company.

    Read case briefRBI source

  2. Cancellation of CoR of 22 NBFCs and One HFC

    Widest orderS5 Severe
    11 Apr 2022licence cancellation

    22 Non-Banking Financial Companies (NBFCs)

    This order covered 22 NBFCs and one HFC whose Certificates of Registration were cancelled after the entities surrendered them. The affected companies are therefore barred from transacting NBFC/HFC business.

    Read case briefRBI source

  4. RBI cancels the licence of Babaji Date Mahila Sahakari Bank Limited, Yavatmal, Maharashtra

    Highest severity, single entityS5 Severe
    11 Nov 2022licence cancellation

    Babaji Date Mahila Sahakari Bank Limited, Yavatmal, Maharashtra

    RBI cancelled the licence of Babaji Date Mahila Sahakari Bank Limited, Yavatmal, Maharashtra. The bank lacked adequate capital and earning prospects and failed to satisfy licensing requirements under the Banking Regulation Act, and RBI said its continuance was prejudicial to depositors and public interest.

    Read case briefRBI source

What It Cost

218 actions had a disclosed amount. Totals and distribution shape are kept separate from action volume.

Median
₹2 L

Previous ₹5 L

Largest
₹5.72 cr

Previous ₹10 cr

Top five
₹14.15 cr

Previous ₹25 cr

95th percentile
₹90 L

Previous ₹2 cr

Change by entity type

Arithmetic attribution of the change in disclosed value. Contributions may exceed 100% or run in the opposite direction.

Entity typeCurrentPreviousContribution
Bank₹18.6 cr₹46.69 cr97.5%
Payment entity₹2.32 cr₹7.02 cr16.3%
Co-operative bank₹14.29 cr₹12.09 cr-7.6%
Other₹1.76 cr₹0-6.1%
NBFC₹3.74 cr₹3.71 cr-0.1%

Entity Coverage

Declared
374
Names extracted
371
Canonical links
371
First seen
234

Entity counts are breadth indicators, not action counts. One bulk order can name hundreds of companies.

Some source records declare entities but contain no extracted names.

Orders Still in Force

Orders
42
Entities
40
Expiring next
158
Duplicate entity rows
2

Next expiry window: 1 Jan 2023–31 Dec 2023.