In fiscal year 2024-25, the Reserve Bank of India levied 353 penalties totaling ₹54.78 crore on regulated entities for statutory contraventions. These penalties addressed non-compliance issues related to cybersecurity, exposure norms, KYC guidelines, fraud reporting, and credit information submissions. Cooperative banks faced the most penalties, followed by NBFCs, housing finance companies, public and private sector banks, and foreign banks.
from Banking/Finance-Industry-Economic Times https://ift.tt/Yk0Faxh
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