The Bank of the Reserve of India (RBI) tok 79 Actions of application of the law against banks and NBFC in fiscal year 2015, or that 48 were against NBFCS, 30 against banks and a against a credit office. Total sanctions amounted to ₹ 33 million rupees, according to a report by the self -regulating organization recognized by RBI.
While only 38 percent of cases of penalty were imposed on banks, they represented 82 percent of the amount of the general penalty. NBFC, meanwhile, represent 60 percent of cases of penalty, but 18 percent of the amount of the penalty. Face did not include actions against regional rural banks and cooperative banks for this report.
“The analysis suggests that the actions (were tasks) for a wide variety of reasons, including breach of KYC standards, the Code of Fair Practices, Corporate Governance, the guidas of digital loans, reports, interest rate, outsourcing.
J & K Bank
Duration Fy25, J& K Bank received the highest monetary sanction of ₹ 3.31 million rupees for allowing certain holders of the basic savings bank deposit (BSBDA) to also open accounts of savings bank deposits. The bank also did not identify the beneficial owner to open accounts of certain legal persons, who were not natural persons. In addition, the Bank allowed operations in certain small accounts that did not meet the regulatory requirements and sanctioned a loan of demand for working capital to a response company receivable for government subsidies.
Uco Bank and Axis Bank were fed with ₹ 2 million rupees and ₹ 1.9 million rupees for violation of several regulatory standards, respectively.
Posted on April 16, 2025