RBI imposes Rs 57.75-lakh penalty on Suryoday Small Finance Bank

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

Reserve Bank of India, RBI — Mumbai: A security personal outside Reserve Bank of India (RBI) headquarters, in Mumbai (PTI Photo

1 min read Last Updated : Jul 23 2022 | 1:40 AM IST

The Reserve Bank of India (RBI) has imposed a penalty of Rs 57.75 lakh on Suryoday Small Finance Bank for non-compliance with norms related to fraud classification.

“This 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," the RBI said.