Data: As Lakhs of NPA Cases Are Referred to Lok Adalats & Other Channels, Amount Recovered Remains Low

Data: As Lakhs of NPA Cases Are Referred to Lok Adalats & Other Channels, Amount Recovered Remains Low

As per RBI guidelines, it is mandatory for banks to have a loan recovery policy approved by their Boards, detailing how they plan to recover dues and reduce NPAs. Banks refer NPA cases to various channels such as DRTs, Lok Adalats, IBC, etc. depending on the nature of the case. Data from the RBI indicates that while lakhs of NPA cases are referred to these channels every year, the amount recovered remains low. Recently, on 25 March 2025, the Gov…

RBI imposes penalties on HDFC Bank, Punjab & Sind Bank

A penalty of ₹75 lakh on HDFC Bank has been imposed for non-compliance with certain directions issued by RBI on 'Know Your Customer' (KYC)

RBI imposes Rs 75L penalty on HDFC Bank for KYC norm violations

The Reserve Bank of India (RBI) has imposed a hefty fine of Rs 75 lakh on HDFC Bank, a leading private sector banking giant, for non-compliance with Know Your Customer (KYC) norms. In a statement released on Wednesday, the RBI said the penalty was imposed because the bank failed to adhere to the guidelines issued in 2016 regarding KYC norms. The latest amendment to these guidelines was made in November 2024. The RBI stated that during an inspect…

Sri Lanka FIU imposes penalties on Indian Bank, Amana Takaful Life

ECONOMYNEXT – Sri Lanka’s central bank Financial Intelligence Unit (FIU) has collected 3 million rupees through penalties imposed on Indian Bank and Amana Takaful Life for non-compliance with the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA). “The FIU collected penalties as indicated below, amounting to Rs. 3 million in total from November to December 2024 to enforce compliance on Institutions. The money collected …

Reserve Bank of India imposes penalties on two banks: Details | DH Latest News, DH NEWS, Latest News, India, NEWS , The Reserve Bank of India, Punjab & Sind Bank, Reserve Bank of India, HDFC Bank, Reserve Bank of India (RBI)

Mumbai: The Reserve Bank has imposed penalties on HDFC Bank and Punjab & Sind Bank. The fine was imposed  for deficiencies in regulatory compliance. A penalty of Rs 75 lakh on HDFC Bank has been imposed for non-compliance with certain directions issued by RBI on ‘Know Your Customer’ (KYC). HDFC is the largest private bank in India, which has a market cap of Rs 13.82 lakh crore. In September last year also, RBI had imposed a penalty of Rs 1 crore…

The Reserve Bank of India (RBI) has imposed a penalty of 75 lakh rupees on HDFC (HDFC Bank), the largest private sector bank. This has been done after the lapse in some rules made by HDFC. According to the statement issued by RBI, this penalty was imposed due to default in compliance with KYC guidelines. RBI has stated in the statement that HDFC Bank has not classified some customers on the basis of their risk category (i.e. low, medium and high…