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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 29-APR-2025

PAYMENTS BANK: IMPOSED PENALTY

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person AIRTEL PAYMENTS BNAK LTD.
  ALLOWED OPERATIONS AND DID NOT CLOSE SEVERAL ACCOUNTS OPEN USING OTP BASED E-KYC IN NON-FACE-TO-FACE MODE, EVEN AFTER EXPIRY OF ONE YEAR WITHOUT CONDUCTING CUSTOMER DUE DILIGENCE PROCEDURE   IMPOSED PENALTY RS.5,00,00,000

07-MAR-2018 		 
2
History of entity/person INDIA POST PAYMENTS BANK LTD.
  UPGRADED CERTAIN SAVINGS BANK ACCOUNTS WITHOUT OBTAINING CUSTOMERS’ CONSENT (IN WRITING OR THROUGH ANY OTHER MODE) AND LEVIED ANNUAL CHARGES AFTER UPGRADATION OF ACCOUNTS   IMPOSED PENALTY RS.26,70,000

15-JAN-2025 		 
3
History of entity/person JIO PAYMENTS BANK LTD.
  DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON TIMELY SUBMISSION OF APPLICATION OF REAPPOINTMENT OF MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER   IMPOSED PENALTY RS.1,00,00,000

28-OCT-2020 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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