Bandhan Bank fined ₹41.80 lakh by RBI for BR Act & KYC violations

The Reserve Bank of India (RBI) has imposed an aggregate monetary penalty of ₹41.80 lakh on Bandhan Bank. This action follows a Statutory Inspection for Supervisory Evaluation of the Bank's financial position as of March 31, 2025. The penalty is for contravention of Section 20(1)(b)(iii) of the Banking Regulation Act, 1949 (₹31.80 lakh), and non-compliance with certain RBI directions on 'Know Your Customer' (KYC) periodic review of risk categorisation (₹10.00 lakh). Bandhan Bank has stated that this order will not have a material impact on its financial, operational, or other activities.