RBI imposes monetary penalty on Airtel Payments Bank

Mumbai, March 30 (SocialNews.XYZ) The Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 31.80 lakh on Airtel Payments Bank Limited (the bank) for non-compliance with certain provisions of the directions issued by RBI on ‘Disclosure in Financial Statements’.

The penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949.

The Statutory Inspection for Supervisory Evaluation (ISE 2025) of the bank was conducted by RBI with reference to its financial position as on March 31, 2025.

“RBI has imposed a monetary penalty of Rs 31.80 lakh on Airtel Payments Bank Limited (the bank) for non-compliance with certain provisions of the directions issued by RBI on ‘Disclosure in Financial Statements’,” the central bank said.

Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said RBI directions.

“After considering the bank’s reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, RBI found that the charge against the bank regarding non-disclosure of certain complaints in its annual financial statements for the financial year 2024-25, was sustained, warranting imposition of monetary penalty,” it said.

The action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

“Further, imposition of monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank,” the central bank mentioned.

Source: IANS