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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 11-OCT-2025

FOREIGN BANKS: DID NOT MAKE ANY EFFORTS TO REVERSE CREDIT BALANCES OF CERTAIN CREDIT CARDHOLDERS, ARISING OUT OF REFUND/FAILED/REVERSED TRANSACTIONS TO THEIR BANK ACCOUNTS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person AMERICAN EXPRESS BANKING CORP.
  DID NOT MAKE ANY EFFORTS TO REVERSE CREDIT BALANCES OF CERTAIN CREDIT CARDHOLDERS, ARISING OUT OF REFUND/FAILED/REVERSED TRANSACTIONS TO THEIR BANK ACCOUNTS   IMPOSED PENALTY RS.31,80,000 FROM 01-OCT-2025

01-OCT-2025 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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