RBI said that it found the bank had opened another BSBD account of certain customers who were already holding a basic savings bank deposit account (BSBD) account in the bank. The statutory inspection for supervisory evaluation (ISE 2024) of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. After considering the bank's reply to the notice and additional submissions made by it, the RBI said that it found the bank had opened another BSBD account of certain customers who were already holding a basic savings bank deposit account (BSBD) account in the bank. Furthermore, according to the RBI, the bank furnished inaccurate information, in respect of certain borrowers, to Credit Information Companies (CICs). "Further, imposition of monetary penalty is without prejudice to any other action that may be initiated by the RBI against the bank," the RBI said.

Source: dna December 19, 2025 15:05 UTC