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RBI imposed penalties on 353 banks, other regulated entities in FY25
The Reserve Bank took enforcement action against regulated entities (REs) and imposed 353 penalties aggregating to ₹54.78 crore in the fiscal ending March 31, 2025 for contraventions with provisions of statutes.
The contraventions/non-compliance were related to cyber security framework in banks; exposure norms and IRAC norms; know your customer directions; frauds classification and reporting directions; reporting information on CRILC; and submission of credit information to credit information companies (CICs).
"During 2024-25, the Department undertook enforcement action against REs and imposed 353 penalties aggregating to Rs 54.78 crore for contraventions/non-compliance with provisions of statutes and certain directions issued by the Reserve Bank from time to time," according to the RBI's Annual Report for the Year 2024-25 released on Thursday.
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