Asset Care & Reconstruction Enterprise Limited Penalty Amount ₹27.30 Lakh (Rupees Twenty-Seven Lakh Thirty Thousand) Order Date September 08, 2026 Statutory Provision Section 12 read with section 30A(1) of the SARFAESI Act, 2002 Primary Violation Non-compliance with RBI directions on ‘Income Recognition’, specifically regarding the charging of management fees. Inspection Reference Financial position as on […]
1. TransUnion CIBIL Limited Penalty: ₹26.82 Lakh Order Date: Aug 31, 2026 Key Violations Failure to credit compensation amounts to bank accounts of eligible complainants within the prescribed period for delayed updation/rectification of credit information. Root Cause Analysis (RCA) Inadequate integration between the internal grievance redressal system and automated payout gateways. Lack of automated triggers
1. Shri Ram Finance Corporation Private Limited Key Details Date of Order: August 19, 2026 Penalty Amount: ₹8.10 Lakh Reference Period: Financial position as of March 31, 2025 Violations / Deficiencies Failure to obtain prior written permission from RBI for appointment of a director, which resulted in a change in management (change of more than
1. IndusInd Bank Limited Key Details Date of Order: August 14, 2026 Penalty Amount: ₹59.20 Lakh Statutory Basis: Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949. Violations: Non-compliance with RBI directions on ‘Interest Rate on Deposits’ and ‘Securitisation of Standard Assets’. Specifically: Paying interest on deposits held in certain current accounts.
1. Infinity Fincorp Solutions Private Limited Key Details Penalty Amount: ₹5.40 Lakh Order Date: August 03, 2026 Regulatory Violations: Non-compliance with RBI ‘Know Your Customer (KYC) Directions’ and ‘Fair Practice Code’. Reference: Statutory Inspection based on financial position as of March 31, 2025. Root Cause Analysis (RCA) The penalty stems from systemic gaps in both
1. Raigad District Central Co-operative Bank Ltd., Maharashtra Key Details Penalty Amount: ₹10.10 Lakh (Rupees Ten Lakh and Ten Thousand only) Order Date: July 23, 2026 Contraventions: Section 20(1) read with section 56 of the Banking Regulation Act, 1949 (BR Act). Directions issued by RBI on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’.
1. Kolhapur District Central Co-op Bank Ltd., Maharashtra Penalty: ₹13.30 Lakh Order Date July 17, 2026 Regulatory Violation Sanctioned director-related loans. Non-compliance with section 20(1) read with section 56 of the BR Act, 1949. Inspecting Authority NABARD (Financial position as of March 31, 2025) Root Cause Analysis (RCA) Inadequate checks during the loan origination process
Surat People’s Co-operative Bank Ltd., Surat Key Details Penalty Amount: ₹13.30 Lakh Date of Order: July 10, 2026 Violation: Non-compliance with directions on ‘Board of Directors UCBs’. Directors participated in and approved proposals in which they were directly or indirectly interested. Statutory Basis: Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation
1. Bank of Baroda Key Details Penalty Amount: ₹63.60 Lakh Date of Order: June 30, 2026 Violations: ‘Fair Practices Code for Lenders’ and ‘Know Your Customer (KYC)’. Specific Lapses: Collected interest higher than the contracted rate in certain loan accounts; failed to upload KYC records of certain customers onto the Central KYC Records Registry (CKYCR)
1. Hutatma Sahakari Bank Ltd., Walva, Maharashtra Key Details Penalty Amount: ₹5 Lakh Date of Order: June 19, 2026 Nature of Violation: Sanctioned loans to a relative of its director. Non-compliance with directions on ‘Loans and Advances to Directors, their Relatives, and Firms / Concerns in which they are Interested’. Root Cause Analysis (RCA) Failure
