RBI imposed penalty on Indian Bank Currency Chest in Guwahati
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The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1,45,700 on the Currency Chest of Indian Bank in Guwahati. The fine was issued due to irregularities found during a routine inspection. The disclosure has been made under Regulation 30 of SEBI (LODR) Regulations, 2015.
Indian Bank shared this information through a stock exchange filing, confirming that the penalty was related to operational shortcomings observed during regular checks by RBI.
However, the bank clarified that the penalty is minor in nature and does not have any significant impact on the bank’s operations or profitability, given the overall scale of its business.
What Indian Bank said to Exchange?
Indian Bank said:
In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we have to inform you that the Reserve Bank of India (RBI) has imposed a penalty of Rs.1,45,700.00 (Rupees one lakh forty five thousand seven hundred only) on Bank’s Currency Chest- Guwahati for routine inspection irregularities. The penalty levied by RBI is related to routine operational activities of the Bank and considering the size of operation of the Bank, the said penalty does not have any material
impact on the Bank and its profitability.
Indian Bank Letter to Stock Exchange
