RBI fines IndusInd Bank ₹27 lakh over non-compliance | Company Business News
The Reserve Bank of India (RBI) imposes a penalty of ₹27 lakh on IndusInd Bank for not complying with norms. The Bank was fined for opening savings accounts for ineligible entities.
The total fine amounts to ₹27.3 lakhs for violating certain provisions of Reserve Bank of India (Interest Rate on Deposits) Directions, 2016.
“The Reserve Bank of India (RBI) has, by an order dated December 18, 2024, imposed a monetary penalty of ₹27.30 lakh (Rupees Twenty-Seven Lakh and Thirty Thousand only) on IndusInd Bank Ltd. (the bank) for non-compliance with certain provisions of ‘Reserve Bank of India (Interest Rate on Deposits) Directions, 2016’,”the central bank said in statement on Friday, November 20.
