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The work of regulating all the banks and NBFCs across the country is done by the Reserve Bank of India (RBI). Ensures customer safety and compliance with guidelines in the banking sector. RBI action was once again seen in April. Two banks and one finance company have been fined. The Central Bank has given this information through a press release on 23 April 2026.

A fine of Rs 80,000 has been imposed on Dr Babasaheb Ambedkar Nagari Sahakari Bank Limited, located in Aurangabad, Maharashtra. A penalty of Rs 1 lakh has been imposed on Hardoi District Cooperative Bank Limited of Uttar Pradesh. A fine of Rs 80 thousand has been imposed on Epix Payment Services Private Limited. This action is based on lapses in compliance with the rules.

Why were banks fined?

Dr Babasaheb Ambedkar Nagari Sahakari Bank Limited did not comply with the prescribed regulatory limits on certain advances. Apart from this, without following the instructions under the Supervisory Action Framework (SAF), interest rates were offered higher than those offered by State Bank of India.

Hardoi District Co-operative Bank Limited failed to put in place a system to periodically review risk category accounts. Under the rules, this work should be done from time to time, at least once in 6 months. RBI has clarified that this action is based on regulatory lapses. This will not affect any transaction or agreement taking place between customers and banks.

Why was the company fined?

Ebix Payment Services Limited violated KYC rules. The company failed to risk categorize its customers. Inspection was conducted to check the financial position of the company between June 2024 and May 2025. In view of the lapses in compliance with the guidelines, a show cause notice was issued. In the reply received and during the personal hearing, all the allegations were found to be true. After which the decision to impose penalty has been taken.

See RBI notification here