MUMBAI, India, March 26 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated March 24, 2025, imposed a monetary penalty of ₹68.20 lakh (Rupees Sixty Eight Lakh Twenty Thousand only) on Punjab & Sind Bank (the bank) for non-compliance with certain directions issued by RBI on 'Creation of a Central Repository of Large Common Exposures - Across Banks' read with 'Central Repository of lnformation on Large Credits (CRlLC) - Revision in Reporting' and 'Financial Inclusion - Access to Banking Services - Basic Savings Bank Deposit Account (BSBDA)'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(...