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RBI revoked a payment system operator’s authorisation

13th busiestof 140 comparable periods· top 9%

43 RBI action records published between 1 October 2024 and 31 October 2024: 31 fresh actions, 12 extensions of existing orders and 28 monetary-penalty actions with an amount stated, totalling ₹92.0 lakh. That is 43 records against 32 over the same 31 days of September 2024, and ₹92.0 lakh of disclosed penalty value against ₹4.63 crore.

Period complete. 31 days covered.

Action records
43

32 in September 2024

Disclosed penalties
₹92 L

₹4.63 cr in September 2024

Severe actions · S4–S5
14

14 · 43.8% previously

Orders in force
31

8 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 Oct0000
2 Oct0000
3 Oct0000
4 Oct1001
5 Oct0000
6 Oct0000
7 Oct5320
8 Oct2002
9 Oct0000
10 Oct4220
11 Oct1001
12 Oct0000
13 Oct0000
14 Oct5230
15 Oct1001
16 Oct1001
17 Oct5230
18 Oct1100
19 Oct0000
20 Oct0000
21 Oct3201
22 Oct2002
23 Oct0000
24 Oct3201
25 Oct2002
26 Oct0000
27 Oct0000
28 Oct7322
29 Oct0000
30 Oct0000
31 Oct0000

What Stood Out

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

01

The penalty distribution shifted toward smaller amounts

The median disclosed penalty was ₹2.0 lakh, down from ₹4.5 lakh in September 2024. The largest was ₹28.3 lakh versus ₹1.91 crore, and the top five accounted for 62.8% of the total, down from 88.1%.

02

Severe actions made up a smaller share of the month’s records

There were 14 severe actions, representing 32.6% of the month’s actions, compared with 14 and 43.8% in September 2024. October included 2 cancellations and no supersessions, against 1 cancellation and 0 supersessions previously.

03

Co-operative banks made up more of the action mix

Co-operative banks accounted for 35 actions, or 81.4%, compared with 20 and 62.5% in September 2024. NBFCs accounted for 5 actions, or 11.6%, down from 8 and 25.0%.

04

Eight existing orders were due to expire in November

The in-force stock comprised 31 orders covering 31 entities. Eight were due to expire in the window from 1 November 2024 to 30 November 2024.

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 penalty28 · 65.1%

    Previous 21 · 65.6%

  2. Business restriction12 · 27.9%

    Previous 10 · 31.3%

  3. Licence cancellation2 · 4.7%

    Previous 1 · 3.1%

  4. Cease & desist1 · 2.3%

Lifecycle

Fresh actions, extensions and withdrawals.

  1. Fresh action31 · 72.1%

    Previous 23 · 71.9%

  2. Extension12 · 27.9%

    Previous 9 · 28.1%

Entity types

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

  1. Co-operative bank35 · 81.4%

    Previous 20 · 62.5%

  2. NBFC5 · 11.6%

    Previous 8 · 25%

  3. Bank2 · 4.7%

    Previous 4 · 12.5%

  4. Payment entity1 · 2.3%

Why RBI acted

Overlapping themes; one action may carry several reasons.

  1. Reporting & disclosure20 · 46.5%

    Previous 18 · 56.3%

  2. Governance & oversight11 · 25.6%

    Previous 5 · 15.6%

  3. Lending norms10 · 23.3%

    Previous 9 · 28.1%

  4. Other9 · 20.9%

    Previous 9 · 28.1%

  5. Capital & exposure norms5 · 11.6%

    Previous 6 · 18.8%

  6. Licensing breach5 · 11.6%

    Previous 2 · 6.3%

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 SG Finserve limited

    Largest disclosed penaltyS3 Elevated
    14 Oct 2024₹28.3 lakhmonetary penalty

    SG Finserve limited

    SG Finserve limited received the largest disclosed penalty, ₹28.3 lakh. The stated reason was non-compliance with specific conditions of its RBI Certificate of Registration, including accepting public funds and extending loans in violation of those conditions.

    Read case briefRBI source

  4. Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Anjangaon Surji Nagari Sahakari Bank Ltd., Amravati, Maharashtra – Extension of Period

    Highest severity, single entityS4 High
    28 Oct 2024business restriction

    The Anjangaon Surji Nagari Sahakari Bank Ltd., Amravati, Maharashtra

    RBI extended the existing Section 35A read with Section 56 directions applicable to the bank. The order continues the prior operational restrictions unchanged for another three months, subject to review.

    Read case briefRBI source

What It Cost

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

Median
₹2 L

Previous ₹4.5 L

Largest
₹28.3 L

Previous ₹1.91 cr

Top five
₹57.8 L

Previous ₹4.08 cr

95th percentile
₹14 L

Previous ₹1 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₹15 L₹3.23 cr83.1%
Co-operative bank₹47.2 L₹84.6 L10.1%
NBFC₹29.8 L₹55.15 L6.8%

Entity Coverage

Declared
44
Names extracted
44
Canonical links
44
First seen
18

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
31
Entities
31
Expiring next
8
Duplicate entity rows
0

Next expiry window: 1 Nov 2024–30 Nov 2024.