1. IIFL Samasta Finance Limited Key Details Penalty Amount: ₹3.90 lakh. Regulatory Violation: Non-compliance with ‘Know Your Customer (KYC)’ and ‘Fraud Risk Management in NBFCs’ directions. Specific Failures: The company failed to put in place a robust software for the effective identification and reporting of suspicious transactions. Additionally, it failed to disclose correct details of […]
The Reserve Bank of India (RBI) has issued 11 draft Amendment Directions to standardize the operational frameworks of control and assurance functions—specifically the Chief Risk Officer (CRO), Chief Compliance Officer (CCO), and Head of Internal Audit (HIA). The overarching theme across all regulated entities is the strict mandate for employer-employee relationships (barring external consultants from
The Reserve Bank of India (RBI) has released the draft Reserve Bank of India (Commercial Banks – Forthcoming Instructions) Amendment Directions, 2026. This draft proposes a comprehensive review and overhaul of the framework for computing Counterparty Credit Risk (CCR). It mandates the transition from the legacy Current Exposure Method (CEM) to the more risk-sensitive Standardised
RBI Amendment Directions Report – REITs & InvITs Applicable Entity: Commercial Banks 1. Reserve Bank of India (Commercial Banks – Credit Facilities) Third Amendment Directions, 2026 Specific Changes Required Following the review of draft guidelines issued in February 2026, the RBI has formally permitted commercial banks to extend credit facilities to SEBI-regulated and listed Real
1. Canara Bank Penalty: ₹41.80 Lakh Key Details Order Date: June 5, 2026 Inspection Reference: March 31, 2025 Violations: Failure to upload KYC records of certain customers onto the Central KYC Records Registry (CKYCR) within the prescribed timeline. Classifying certain accounts as ‘inoperative’ despite the last customer-induced transaction being less than one year old. Root
RBI Amendment Directions, 2026 – Management Report Date of Press Release: June 05, 2026 Subject: Reserve Bank of India (Interest Rate on Deposits) Amendment Directions, 2026 Objective: To provide flexibility in pricing Rupee bulk deposits and ensure uniformity in the public disclosure of deposit interest rates. Action Required: Submit comments/feedback via ‘Connect 2 Regulate’ portal
1. CreditAccess Grameen Limited Penalty Amount ₹3.10 Lakh Order Date May 25, 2026 Inspection Date March 31, 2025 Regulation Violated KYC Directions (Suspicious Transactions) Key Details The company was penalized for non-compliance with the Reserve Bank of India (Know Your Customer) Directions. Specifically, it failed to implement a robust software mechanism capable of generating alerts
The Reserve Bank of India (RBI) has issued final Amendment Directions to ensure strict compliance with Section 10A(2A)(i) read with Section 56 of the Banking Regulation Act, 1949. To curb practices where the statutory 10-year tenure cap was bypassed through artificial breaks or brief resignations, the RBI has mandated a strict three-year cooling-off period for
The wave of death inevitably carries us to our final resting place, where our names are etched into stone—the last markers of our old and graying earthly vessels. Whether it is the darkness of a tomb or the ashes of a pyre, the physical body perishes, and the soil and elements reclaim what was borrowed.
1. City Union Bank Limited Key Details Penalty: ₹10.10 Lakh Date: May 20, 2026 Category: Priority Sector Loans & Data Reporting Violation: 1) Levied loan-related charges on agriculture priority sector loans up to ₹25,000. 2) Failed to report Self Help Group (SHG) member-level data to Credit Information Companies (CICs). Root Cause Analysis (RCA) Charge Levies:
