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RBI cancelled four NBFC licences, barring their NBFC business

35th busiestof 140 comparable periods· top 25%

32 RBI action records published between 1 September 2024 and 30 September 2024: 23 fresh actions, 9 extensions of existing orders and 21 monetary-penalty actions with an amount stated, totalling ₹4.63 crore. That is 32 records against 39 over the same 30 days of August 2024, and ₹4.63 crore of disclosed penalty value against ₹11.77 crore.

Period complete. 30 days covered.

Action records
32

39 in August 2024

Disclosed penalties
₹4.63 cr

₹11.77 cr in August 2024

Severe actions · S4–S5
14

15 · 38.5% previously

Orders in force
34

14 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 Sept0000
2 Sept2200
3 Sept0000
4 Sept0000
5 Sept0000
6 Sept4031
7 Sept0000
8 Sept0000
9 Sept6222
10 Sept4004
11 Sept0000
12 Sept0000
13 Sept8044
14 Sept0000
15 Sept0000
16 Sept0000
17 Sept0000
18 Sept0000
19 Sept3120
20 Sept0000
21 Sept0000
22 Sept0000
23 Sept0000
24 Sept0000
25 Sept0000
26 Sept3102
27 Sept1001
28 Sept0000
29 Sept0000
30 Sept1100

What Stood Out

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

01

Severe actions took a larger share despite fewer such records

September had 14 severe actions, or 43.8% of the total, compared with 15 and 38.5% in August 2024. The average severity score was 2.78, and September included one cancellation.

02

Banks and NBFCs accounted for the fall in disclosed penalty value

Disclosed penalty value was ₹4.63 crore, down from ₹11.77 crore in August 2024, a decline of ₹7.14 crore. Bank penalties were ₹3.23 crore across 3 actions, against ₹6.89 crore across 4, while NBFC penalties were ₹55.2 lakh across 7, against ₹4.17 crore across 8.

03

Fourteen orders in force were due to expire in October

The month ended with 34 orders in force covering 33 entities. Fourteen orders were due to expire between 1 October 2024 and 31 October 2024.

04

Reporting and disclosure was the most frequent tagged theme

Reporting and disclosure appeared on 18 actions, or 56.3%, while lending norms appeared on 9, or 28.1%. Capital and exposure norms and customer protection each appeared on 6 actions, or 18.8%; the themes overlap and are not exclusive.

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 penalty21 · 65.6%

    Previous 30 · 76.9%

  2. Business restriction10 · 31.3%

    Previous 8 · 20.5%

  3. Licence cancellation1 · 3.1%

    Previous 1 · 2.6%

Lifecycle

Fresh actions, extensions and withdrawals.

  1. Fresh action23 · 71.9%

    Previous 31 · 79.5%

  2. Extension9 · 28.1%

    Previous 8 · 20.5%

Entity types

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

  1. Co-operative bank20 · 62.5%

    Previous 26 · 66.7%

  2. NBFC8 · 25%

    Previous 9 · 23.1%

  3. Bank4 · 12.5%

    Previous 4 · 10.3%

Why RBI acted

Overlapping themes; one action may carry several reasons.

  1. Reporting & disclosure18 · 56.3%

    Previous 24 · 61.5%

  2. Lending norms9 · 28.1%

    Previous 13 · 33.3%

  3. Other9 · 28.1%

    Previous 8 · 20.5%

  4. Capital & exposure norms6 · 18.8%

    Previous 7 · 17.9%

  5. Customer protection6 · 18.8%

    Previous 8 · 20.5%

  6. Governance & oversight5 · 15.6%

    Previous 8 · 20.5%

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 Axis Bank Limited

    Largest disclosed penaltyS4 High
    10 Sept 2024₹1.91 croremonetary penalty

    Axis Bank Limited

    RBI imposed a ₹1.91 crore monetary penalty on Axis Bank Limited for non-compliance with RBI directions on interest rate on deposits, KYC and credit flow to agriculture, along with contravention of Section 19(1)(a) of the BR Act.

    Read case briefRBI source

  3. Directions under Section 35A read with section 56 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) - Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak (Karnataka)

    Highest severity, single entityS4 High
    27 Sept 2024business restriction

    Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak

    RBI issued Section 35A directions to Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak, due to supervisory concerns arising from recent adverse material developments, to protect depositors’ interests. The bank is barred from taking fresh business actions and allowing withdrawals, subject to stated exceptions.

    Read case briefRBI source

What It Cost

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

Median
₹4.5 L

Previous ₹3.05 L

Largest
₹1.91 cr

Previous ₹2.68 cr

Top five
₹4.08 cr

Previous ₹9.74 cr

Percentiles
Suppressed

Too few priced actions for a stable tail estimate.

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₹3.23 cr₹6.89 cr51.2%
NBFC₹55.15 L₹4.17 cr50.7%
Co-operative bank₹84.6 L₹70.83 L-1.9%

Entity Coverage

Declared
35
Names extracted
36
Canonical links
36
First seen
16

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

Orders Still in Force

Orders
34
Entities
33
Expiring next
14
Duplicate entity rows
1

Next expiry window: 1 Oct 2024–31 Oct 2024.