RBI imposes Rs 44.70 lakh fine on Bandhan Bank
August 29, 2025
RBI imposes Rs 44.70 lakh fine on Bandhan Bank
RBI imposes Rs 44.70 lakh fine on Bandhan Bank
Last Updated: August 29, 2025, 19:00 IST
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Mumbai, Aug 29 (PTI) The Reserve Bank of India has imposed a penalty of Rs 44.7 lakh on Bandhan Bank for deficiencies in certain statutory and regulatory compliance.
In a statement on Friday, the RBI said that a statutory inspection for supervisory evaluation of the bank was conducted with reference to its financial position as on March 31, 2024.
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Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why a penalty should not be imposed on it for its failure to comply with the said RBI directions.
RBI said the bank paid remuneration in the form of commission to certain employees.
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Also, Bandhan Bank had carried out manual intervention through the back-end in respect of data of certain accounts and had not captured the audit trails/ logs of access with specific user details in the system.
RBI, however, said the penalty is based on deficiencies in statutory and regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. PTI NKD NKD SHW
First Published: August 29, 2025, 19:00 IST
News agency-feeds RBI imposes Rs 44.70 lakh fine on Bandhan Bank
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Last Updated: August 29, 2025, 19:00 IST
Representational image (Image: News18)
Mumbai, Aug 29 (PTI) The Reserve Bank of India has imposed a penalty of Rs 44.7 lakh on Bandhan Bank for deficiencies in certain statutory and regulatory compliance.
In a statement on Friday, the RBI said that a statutory inspection for supervisory evaluation of the bank was conducted with reference to its financial position as on March 31, 2024.
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Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why a penalty should not be imposed on it for its failure to comply with the said RBI directions.
RBI said the bank paid remuneration in the form of commission to certain employees.
top videos View all Swipe Left For Next Video View all
Also, Bandhan Bank had carried out manual intervention through the back-end in respect of data of certain accounts and had not captured the audit trails/ logs of access with specific user details in the system.
RBI, however, said the penalty is based on deficiencies in statutory and regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. PTI NKD NKD SHW
First Published: August 29, 2025, 19:00 IST
News agency-feeds RBI imposes Rs 44.70 lakh fine on Bandhan Bank
Disclaimer: Comments reflect users’ views, not News18’s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy Loading comments...