India, Feb. 4 -- The Reserve Bank of India (RBI) has, by an order dated January 20, 2025, imposed a monetary penalty of ?65 lakh (Rupees Sixty Five Lakh only) on Equitas Small Finance Bank Limited (the bank) for non-compliance with certain directions issued by RBI on 'Levy of Foreclosure Charges/Pre-payment Penalty on Floating Rate Term Loans' and 'Credit Flow to Agriculture – Collateral free agricultural loans'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
The Statutory Inspection for Supervisory Evaluation (ISE) of the bank was conducted by RBI with reference to its financial position as on March 31, 202...