Mumbai, April 15 -- Banks in India seem to have become more compliant with regulatory norms in FY26, with the quantum of penalties imposed by the central bank declining by about 37% over the previous financial year, data compiled by Mint showed.

The Reserve Bank of India imposed monetary penalties of Rs.19.8 crore on commercial banks in FY26, as against Rs.31.4 crore in FY25, even as the number of penalties remained unchanged at 35. The data is based on fines announced on the RBI website.







The most common violations included failure to comply with KYC (know your customer) norms, not categorizing customers on the basis of risk, allotting multiple customer IDs instead of a unique one, and not transferring unclaimed deposits to the De...