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

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.