RBI Penalty Compliance Report 1. The Pali District Central Co-operative Bank Ltd., Rajasthan Key Details Penalty Amount: ₹50,000 Date of Order: March 17, 2026 Inspecting Authority: NABARD (Position as of March 31, 2025) Violation: Non-compliance with KYC directions; failed to implement a system for periodic review of risk categorisation of accounts (required at least once
1. Key Details Action: Approval of Voluntary Amalgamation Amalgamating Bank: Lalbaug Co-operative Bank Ltd. (Vadodara, Gujarat) Amalgamated Bank: Akhand Anand Co-operative Bank Ltd. (Surat, Gujarat) Effective Date: March 23, 2026 Statutory Provision: Section 44A (4) read with Section 56 of the Banking Regulation Act, 1949 Operational Status: All branches of Lalbaug Co-op Bank will operate
Executive Summary: The Reserve Bank of India (RBI) has imposed a monetary penalty on The Hongkong and Shanghai Banking Corporation Limited. The penal action follows a statutory Inspection for Supervisory Evaluation (ISE) based on the bank’s financial position as of March 31, 2025, which revealed critical lapses in the management and reporting of Inoperative Accounts
1. Key Incident Details Entity Name: Cashfree Payments India Private Limited Penalty Amount: ₹3.10 Lakh (Rupees Three Lakh Ten Thousand only) Date of Order: March 09, 2026 (Press Release: March 16, 2026) Inspection Period: April 2024 to June 2025 Regulatory Framework: Guidelines on Regulation of Payment Aggregators (PAs) and Payment Gateways (PGs) Core Violation: Making
1. Key Details Regulated Entity: Manappuram Finance Limited Penalty Amount: ₹2.70 Lakh (Rupees Two Lakh Seventy Thousand only) Statutory Inspection Period: Financial position as on March 31, 2025 Regulatory Authority: Reserve Bank of India (RBI) Applicable Act/Provision: Section 58G(1)(b) read with section 58B(5)(aa) of the Reserve Bank of India Act, 1934 Nature of Violation: Non-compliance
Executive Summary On March 12, 2026, the Reserve Bank of India (RBI) published press releases detailing monetary penalties imposed on two co-operative banks due to non-compliance with regulatory directives. Following statutory inspections evaluating the banks’ financial positions as of March 31, 2025, enforcement actions were initiated against The Pallikonda Co-operative Urban Bank Limited (Tamil Nadu)
Executive Summary The Reserve Bank of India (RBI) has exercised its powers under Section 35 A read with Section 56 of the Banking Regulation Act, 1949, to impose strict operational restrictions on three distinct cooperative banks across India. These directives come in response to the banks’ deteriorating financial liquidity and the management’s failure to address
Executive Summary On March 11, 2026, the Reserve Bank of India (RBI) announced the cancellation of the Certificate of Registration (CoR) for nine Non-Banking Financial Companies (NBFCs). These cancellations were executed in accordance with the powers conferred upon the RBI under Section 45-IA (6) of the Reserve Bank of India Act, 1934. The surrender of
1. Key Details Regulatory Body: Reserve Bank of India (RBI). Action Taken: Cancellation of the Certificate of Registration (CoR) of 36 Non-Banking Financial Companies (NBFCs). Legal Authority: Section 45-IA (6) of the Reserve Bank of India Act, 1934. Consequence: The specified companies are strictly prohibited from transacting the business of a Non-Banking Financial Institution, as
Revised RBI Prudential Norms on Declaration of Dividend & Remittance of Profits (2026) Based on the RBI Press Release (March 10, 2026) and the issuance of five Master Directions and one Amendment Guideline. The extant norms remain valid till FY 2025-26, with the revised frameworks taking effect from Financial Year (FY) 2026-27. Executive Summary The
