New Delhi: A day after imposing monetary penalties on two banks in Maharashtra, the Reserve Bank of India (RBI) on Wednesday imposed a financial penalty of Rs 1 crore on Bandhan Bank Limited (the bank) for not meeting the guidelines on its promoter holding norms.

This penalty from the RBI on the Bandhan Bank Limited has been imposed in exercise of powers vested in the central bank, taking into account the default committed by the bank in complying with the licensing guidelines and conditions.

This action from the central bank is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank.

On Tuesday, the RBI also imposed monetary penalties on two banks in Maharashtra – Janata Sahakari Bank Ltd, Pune, and Jalgaon Peoples Co-operative Bank Ltd, Jalgaon – for violating asset classification norms.

On Tuesday, the central bank imposed a monetary penalty of Rs 1 crore on Janata Sahakari Bank Ltd, Pune, for noncompliance with directions issued by it on Income Recognition and Asset Classification (IRAC) norms, management of advances and exposure norms and statutory/other restrictions.

The strict action from the central bank is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

The central bank also on the same day slapped a financial penalty of Rs 25 Lakhs on Jalgaon Peoples Co-operative Bank Ltd, Jalgaon, Maharashtra, for non-compliance with directions issued by RBI on Income Recognition and Asset Classification (IRAC) norms and Management of Advances.

Prior to this, the central bank had on Monday imposed a penalty of Rs 35 lakh on Tamilnad Mercantile Bank for violating norms on fraud classification and notification.

Earlier this month, the central bank had imposed a penalty of Rs 1 crore on Lakshmi Vilas Bank and Rs 75 lakh on Syndicate bank for violating asset classification and fraud detection norms.