₹41 lakh penalty on Bandhan Bank, ₹80,000 penalty on Muthoot

The RBI has fined Bandhan Bank ₹41.8 lakh for KYC and governance lapses, including improper risk reviews and director-linked loans. Muthoot Housing Finance was penalised ₹80,000 for violating fair practice norms. The move underscores RBI's strict compliance stance, ensuring stronger governance and risk management across India's banking and financial sector.