Reserve Bank of India (RBI) has imposed penalties of ₹1.36 crore on CSB Bank Ltd, Bank of Maharashtra (BoM), DCB Bank Ltd and two non-banking financial companies (NBFCs) for non-compliance with the directions issued by the banking regulator. The highest penalty of ₹63.60 lakh has been imposed on CSB Bank.
The NBFCs penalised are Maharashtra-based IIFL Finance Ltd and Karnataka-based Navi Finserv Ltd
CSB Bank has been penalised for non-compliance with certain directions issued by RBI on the scope of activities to be undertaken by business correspondents (BCs) and customer service in banks.
RBI’s statutory inspection found that CSB Bank had entered into arrangements with business correspondents to undertake activities that were outside the scope permitted for BCs. The inspection also revealed that the lender levied charges on certain savings bank accounts without adequately informing customers in advance.
BoM was fined ₹32.50 lakh for non-compliance with certain provisions of directions issued by RBI on credit information reporting in respect of self-help group members and know your customer (KYC) norms. RBI found that the lender failed to report self-help group member-level data to credit information companies and did not identify beneficial owners in certain accounts.
Further, DCB Bank has been penalised ₹29.60 lakh for non-compliance with certain directions issued by RBI on loans extended against the pledge of gold ornaments and jewellery for non-agricultural purposes. The lender failed to maintain the prescribed loan-to-value (LTV) ratio in certain non-agricultural gold loan accounts during the tenure of these loans.
IFL Finance, an NBFC based in Maharashtra, has been penalised ₹5.30 lakh for non-compliance with certain directions issued by RBI on asset classification. The NBFC failed to classify certain restructured accounts as non-performing assets (NPAs).
Similarly, during the inspection Navi Finserv, the NBFC contacted customers after 7pm and before 8am for recovery of overdue loans and did not follow the due protocol while sending messages to customers
As a result, RBI penalised Navi Finserv ₹3.80 lakh.
In all five cases, RBI clarified that the penalties are based on deficiencies in regulatory compliance and are not intended to pronounce on the validity of any transactions or agreements these entities entered into with their customers.
Indian Mercantile Cooperative Bank Licence Cancelled by RBI
Moneylife Digital Team
16 February 2026
Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Lucknow-based Indian Mercantile Cooperative Bank Ltd due to inadequate capital and the lender's poor earnings prospects. RBI has asked Indian...
Competition Commission Imposes ₹27.38 Crore Penalty on Intel for Abuse of Dominance Over PC Microprocessor Warranty Policy
SN Thyagarajan (Bar
and
Bench)
13 February 2026
The Competition Commission of India (CCI) has imposed a penalty of ₹27.38 crore on Intel Corporation for abusing its dominant position in the market for boxed microprocessors for desktop PCs in India.
The Commission held that...
SK Finance Pays ₹8.75 lakh To Settle SEBI Case over Deemed Public Issue of NCDs
Moneylife Digital Team
13 February 2026
SK Finance Ltd has settled enforcement proceedings with the market regulator, the Securities and Exchange Board of India, by paying a settlement amount of ₹8.75 lakh for issues related to the issuance and subsequent down-selling of...
RBI Imposes ₹5 Lakh Fine on Ganganagar Kendriya Sahkari Bank and Berhampur Cooperative Bank
Moneylife Digital Team
13 February 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹5 lakh on two cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of ₹3 lakh has been imposed on Rajasthan-based...
