Regulation

When the RBI Penalises: What Enforcement Actions Reveal About Compliance Failures

On March 23, 2026, the RBI fined Central Bank of India Rs 63.60 lakh for two violations: failing to upload KYC records to the Central KYC Records Registry within the prescribed timeline, and opening duplicate Basic Savings Bank Deposit Accounts for customers who already had one. On March 18, HSBC go