RBI imposes Rs 44 lakh fine on this Bank, for deficiencies in…, check if you have account here

RBI took action against this bank check if you have an account here?

Written by: Anirudha Yerunkar Edited by: Anirudha Yerunkar

Published: August 30, 2025, 3:41 PM IST

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https://www.india.com/business/rbi-imposes-rs-44-lakh-fine-on-bandhan-bank-for-deficiencies-in-certain-statutory-and-regulatory-compliance-check-if-you-have-account-here-8043150/ Copy

The Reserve Bank of India (RBI) has levied a penalty of Rs 44.7 lakh on Bandhan Bank for lapses in statutory and regulatory compliance.

In a statement on Friday, the central bank said the action followed a statutory inspection for supervisory evaluation of the bank’s financial position as of March 31, 2024.

RBI Fines Bandhan Bank

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.

RBI On Bandhan Bank

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.

Highlights

1. RBI on Bandhan Bank
2. RBI action on Bankdhan Bank
3. RBI fines Bandhan Bank
4. Bandhan Bank action by RBI

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. 

(With Inputs From PTI)