India, Dec. 22 -- Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 61.95 lakh on Kotak Mahindra Bank Limited for non-compliance with certain regulatory directions, according to an order dated December 11, 2025.
The penalty has been levied for violations related to RBI guidelines on Basic Savings Bank Deposit Accounts (BSBDA), norms governing the scope of activities of Business Correspondents (BCs), and contravention of provisions of the Credit Information Companies Rules, 2006. The action has been taken under the relevant provisions of the Banking Regulation Act, 1949 and the Credit Information Companies (Regulation) Act, 2005.
The penalty follows RBI's Statutory Inspection for Supervisory Evaluation (ISE 2024), conducted ...