RBI Cracks Down: Penalties on CSB, Bank of Maharashtra, DCB, IIFL, Navi Finserv

• RBI imposed penalties on multiple financial institutions for non-compliance with various banking regulations.
• CSB Bank fined ₹63.60 lakh for non-compliance related to 'Business Correspondents' and 'Customer Service in Banks'.
• Bank of Maharashtra penalized ₹32.50 lakh for not reporting Self Help Group data and failing to identify Beneficial Owners.
• DCB Bank received a ₹29.60 lakh penalty for not maintaining the prescribed loan-to-value (LTV) ratio in gold loan accounts.
• IIFL Finance and Navi Finserv also faced penalties for non-compliance with asset classification and recovery agent guidelines, respectively.