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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 27-NOV-2025

PRIVATE BANKS: INDIRECTLY IMPOSED CHARGES ON BASIC SAVINGS BANK DEPOSIT (BSBD) ACCOUNT HOLDERS FOR MAKING PAYMENT USING UNIFIED PAYMENTS INTERFACE (UPI)

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person TAMILNAD MERCANTILE BANK LTD.
  INDIRECTLY IMPOSED CHARGES ON BASIC SAVINGS BANK DEPOSIT (BSBD) ACCOUNT HOLDERS FOR MAKING PAYMENT USING UNIFIED PAYMENTS INTERFACE (UPI)

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRANSFER OF ELIGIBLE UNCLAIMED FUNDS TO DEPOSITOR EDUCATION AND AWARENESS FUND WITHIN PRESCRIBED PERIOD   		IMPOSED PENALTY RS.39,60,000 FROM 13-NOV-2025

13-NOV-2025 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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