After cyber audit, RBI imposes ₹65-lakh penalty on AP Mahesh bank

RBI has imposed a penalty of ₹65 lakh on AP Mahesh Co-operative Urban Bank for non-compliance with provisions of cyber security practices. This comes after RBI's cyber audit and an investigation by Hyderabad Police revealed the city-based bank's lapses which led to hackers breaching the bank's systems through phishing mails in 2022. The hackers had siphoned off ₹12.48 crore.