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RBI cancelled two NBFC licences in November

9th busiestof 140 comparable periods· top 6%

44 RBI action records published between 1 November 2023 and 30 November 2023: 35 fresh actions, 9 extensions of existing orders and 32 monetary-penalty actions with an amount stated, totalling ₹14.04 crore. That is 44 records against 59 over the same 30 days of October 2023, and ₹14.04 crore of disclosed penalty value against ₹26.90 crore.

Period complete. 30 days covered.

Action records
44

59 in October 2023

Disclosed penalties
₹14.04 cr

₹26.9 cr in October 2023

Severe actions · S4–S5
17

20 · 33.9% previously

Orders in force
39

16 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
1 Nov0000
2 Nov0000
3 Nov4031
4 Nov0000
5 Nov0000
6 Nov5230
7 Nov0000
8 Nov1001
9 Nov0000
10 Nov2002
11 Nov0000
12 Nov0000
13 Nov0000
14 Nov0000
15 Nov1001
16 Nov3021
17 Nov2002
18 Nov0000
19 Nov0000
20 Nov7322
21 Nov1001
22 Nov0000
23 Nov6411
24 Nov5005
25 Nov0000
26 Nov0000
27 Nov0000
28 Nov0000
29 Nov0000
30 Nov7700

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 most of the fall in penalty value

Disclosed penalty value fell to ₹14.04 crore from ₹26.90 crore in October 2023, a decline of ₹12.86 crore. Banks accounted for 42.8% of that decline, payment entities for 41.9%, NBFCs for 13.3% and co-operative banks for 2.0%.

02

Penalty values shifted toward a less concentrated distribution

The median penalty rose to ₹2.2 lakh from ₹2.0 lakh in October 2023, while the maximum fell to ₹5.00 crore from ₹12.19 crore. The top five penalties made up 85.2% of disclosed value, down from 93.1%.

03

Severe actions took a larger share of the month’s records

There were 17 severe actions, or 38.6% of the total, compared with 20 actions and 33.9% in October 2023. The month included one cancellation and one supersession, compared with two cancellations and no supersessions previously.

04

Co-operative banks made up a smaller share of the action mix

Co-operative banks accounted for 63.6% of actions, down from 81.4% in October 2023. Their count was 28, compared with 48 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 penalty32 · 72.7%

    Previous 44 · 74.6%

  2. Business restriction10 · 22.7%

    Previous 13 · 22%

  3. Board supersession1 · 2.3%
  4. Licence cancellation1 · 2.3%

    Previous 2 · 3.4%

Lifecycle

Fresh actions, extensions and withdrawals.

  1. Fresh action35 · 79.5%

    Previous 48 · 81.4%

  2. Extension9 · 20.5%

    Previous 11 · 18.6%

Entity types

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

  1. Co-operative bank28 · 63.6%

    Previous 48 · 81.4%

  2. Bank8 · 18.2%

    Previous 5 · 8.5%

  3. NBFC8 · 18.2%

    Previous 5 · 8.5%

Why RBI acted

Overlapping themes; one action may carry several reasons.

  1. Reporting & disclosure23 · 52.3%

    Previous 32 · 54.2%

  2. Lending norms11 · 25%

    Previous 19 · 32.2%

  3. Capital & exposure norms9 · 20.5%

    Previous 15 · 25.4%

  4. Customer protection9 · 20.5%

    Previous 20 · 33.9%

  5. Governance & oversight9 · 20.5%

    Previous 12 · 20.3%

  6. Other9 · 20.5%

    Previous 11 · 18.6%

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 Citibank N.A.

    Largest disclosed penaltyS4 High
    24 Nov 2023₹5.00 croremonetary penalty

    Citibank N.A.

    Citibank N.A. was penalized for contraventions of Section 26A and Section 10(1)(b)(ii) of the Banking Regulation Act, 1949, and for non-compliance with RBI directions on outsourcing of financial services and KYC.

    Read case briefRBI source

What It Cost

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

Median
₹2.25 L

Previous ₹2 L

Largest
₹5 cr

Previous ₹12.19 cr

Top five
₹11.97 cr

Previous ₹25.03 cr

95th percentile
₹4.34 cr

Previous ₹3.95 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₹12.27 cr₹17.78 cr42.8%
Payment entity₹0₹5.39 cr41.9%
NBFC₹90.86 L₹2.61 cr13.3%
Co-operative bank₹86.05 L₹1.12 cr2%

Entity Coverage

Declared
45
Names extracted
47
Canonical links
47
First seen
4

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

Orders Still in Force

Orders
39
Entities
39
Expiring next
16
Duplicate entity rows
0

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