The Reserve Bank of India (RBI) imposed penalties on 353 regulated entities (REs) totalling Rs 54.78 crore in FY25 for contraventions of statutory provisions and regulatory directions.

Cooperative banks got the maximum stick, with the RBI imposing 264 penalties on them amounting to Rs 15.63 crore.

The central bank also took action against 37 non-banking financial companies (NBFCs) and asset reconstruction companies (ARCs), totalling Rs 7.29 crore.

The RBI also fined a combined Rs 83 lakh on 13 housing finance companies.

Among commercial banks, eight public sector banks were fined a total of Rs 11.11 crore while 15 private sector banks were penalised Rs 14.8 crore. 

The RBI also penalised six foreign banks during the fiscal year, the RBI said in its Annual Report for 2024-25.

The RBI imposed penalties for non-compliance in areas including cyber security, exposure norms, income recognition and asset classification (IRAC), Know Your Customer (KYC) guidelines, fraud classification and reporting, submission of data to the Central Repository of Information on Large Credits (CRILC) and credit information reporting to credit information companies.