India, May 5 -- The Reserve Bank of India (RBI) has, by an order dated April 30, 2025, imposed a monetary penalty of ?31.80 lakh (Rupees Thirty one lakh eighty thousand only) on IDBI Bank Limited (the bank) for non-compliance with certain directions issued by RBI on 'lnterest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC)'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
The Statutory Inspection for Supervisory Evaluation of the bank was conducted by RBI with reference to its financial position as on March 31, 2023. Based on supervisory findings...