Five Star Business Finance Limited Penalty: ₹6.20 Lakh 📋 Key Details Date of Order: June 18, 2026 Violations: KYC Directions & Fair Practice Code. Specifics: Lack of software for suspicious transaction reporting; failure to disclose risk gradation and rationale for interest rates to borrowers. 🔍 Root Cause Analysis (RCA) Over-reliance on manual AML/KYC monitoring processes […]
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
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
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
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:
1. Appnit Technologies Private Limited Key Details Penalty Amount: ₹5.80 lakh Date of Order: May 11, 2026 Violations: Non-compliance with RBI directions on ‘Know Your Customer (KYC)’ and ‘Prepaid Payment Instruments (PPI)’. Specific Failures: Allowed PPI accounts opened via Aadhaar OTP-based e-KYC to remain active for over one year without proper identification, and failed to
Yes Bank Limited Penalty: ₹31.80 Lakh Key Details Date: May 08, 2026 (Order: April 27, 2026) Violation: Know Your Customer (KYC) Directions. Finding: Failed to put in place a system of using the KYC Identifier assigned by the Central KYC Records Registry (CKYCR) for establishing account-based relationships with customers. Root Cause Analysis (RCA) Incomplete IT
1. Key Details of the Penalty Bank: Bandhan Bank Limited. Penalty Amount: ₹41.80 Lakh (Rupees Forty-One Lakh Eighty Thousand only). Date of Order: April 21, 2026. Inspection Reference: Statutory Inspection for Supervisory Evaluation (ISE) as of March 31, 2025. Nature of Violations: KYC Non-compliance: Failure to carry out periodic reviews of risk categorization for certain
1. Dr. Babasaheb Ambedkar Nagari Sahakari Bank Ltd., Aurangabad Key Details Penalty Imposed: ₹80,000 Order Date: April 17, 2026 Inspection Reference: Financial position as on March 31, 2025. Violation: Non-compliance with ‘Exposure Norms & Statutory/Other Restrictions – UCBs’ and Supervisory Action Framework (SAF). Specific Failures: Failed to adhere to prescribed regulatory ceilings on certain advances
1. Key Details Entity: The Himachal Pradesh State Co-operative Bank Ltd. Penalty Amount: ₹7,50,000/- (Rupees Seven Lakh Fifty Thousand only) Order Date: April 10, 2026 Inspecting Authority: NABARD (Based on financial position as of March 31, 2025) Applicable Law: Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949. Core Violation:
