RBI imposed penalties on 353 banks, other regulated entities during FY25

India - AKP Banking & Finance Digest June 02, 2025. - Conventus Law

1. Regulatory Updates  1.1. India  Reserve Bank of India (RBI)  1.1.1. RBI Launches ITES Exports Survey for 2024–25  The Reserve Bank of India (“RBI”) has initiated its annual Survey on Computer Software and Information Technology Enabled Services (“ITES”) Exports for the financial year 2024–25. The Survey captures export data relating to software services, ITES, and Business Process Outsourcing (BPO), contributing both to India’s external secto…

RBI imposed penalties on 353 banks, other regulated entities during FY25

Mumbai, Jun 1 (PTI) The Reserve Bank took enforcement action against regulated entities (REs) and imposed 353 penalties aggregating to Rs 54.78 crore in the fiscal ending March 31, 2025 for contraventions with provisions of statutes. The contraventions/non-compliance were related to cyber security framework in banks; exposure norms and IRAC norms; know your customer directions; frauds classification and reporting directions; reporting informatio…