India, April 24 -- The Reserve Bank of India (RBI) has, by an order dated April 21, 2026 imposed a monetary penalty of Rs. 41.80 lakh (Rupees Forty One Lakh Eighty Thousand only) on Bandhan Bank Limited (the bank) for contravention of the provisions of section 20(1)(b)(iii) of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on 'Know Your Customer'. 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) of the BR Act.The Statutory Inspection for Supervisory Evaluation of the bank was conducted by RBI with reference to its financial position as on March 31, 2025. Based on supervisory findings of non-compliance...