RBI Imposes Penalties on ESFBL and IPPB for Regulatory Violations.

Banking & Finance

In February 2025, the Reserve Bank of India (RBI) imposed penalties on Chennai (Tamil Nadu) based Equitas Small Finance Bank Limited (ESFBL) and New Delhi (Delhi) based India Post Payments Bank Limited (IPPB) for non-compliance with regulatory guidelines.


      - ESFBL was fined Rs 65 lakh for violating directions on 'Levy of Foreclosure Charges/Pre-payment Penalty on Floating Rate Term Loans' and 'Credit Flow to Agriculture – Collateral-free Agricultural Loans.'

     

     

Main Point :-   (i) IPPB was penalized Rs 26.70 lakh for deficiencies in adhering to 'Customer Service in Banks' norms.

      (ii) Additionally, a penalty of Rs 3.10 lakh was imposed on Chennai-based Aptus Finance India Private Limited for contravening certain provisions related to Non-Banking Financial Companies (NBFCs).


About RBI

Governor : Sanjay Malhotra
Headquarter : Mumbai
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