The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 31.80 lakh on Airtel Payments Bank Limited for failing to comply with certain disclosure provisions in financial statements. This penalty was enforced under the Banking Regulation Act, 1949. The RBI conducted a Statutory Inspection for Supervisory Evaluation of the bank based on its financial position as of March 31, 2025.
The central bank stated that the penalty was a result of the bank’s non-compliance with RBI directions on disclosure in financial statements. Following supervisory findings and related correspondence, the bank was issued a notice to explain why a penalty should not be imposed for its failure to adhere to the RBI directives. Despite the bank’s submissions and oral hearings, RBI found the charge of non-disclosure of certain complaints in its 2024-25 financial statements to be valid, leading to the monetary penalty.
This penalty is attributed to regulatory compliance shortcomings and does not question the validity of any transactions with customers. The RBI clarified that the monetary penalty does not preclude any further actions that may be taken against the bank.
