RBI fines Bank of Maharashtra ₹1.2 cr, Poonawalla Fincorp ₹10 lakh

RBI penalised the Bank of Maharashtra, Poonawalla Fincorp and Hinduja Leyland Finance over certain rule violations. Bank of Maharashtra was fined ₹1.27 crore for non-compliance with rules related to the loan system for delivery of bank credit, cybersecurity and KYC. Poonawalla was fined ₹10 lakh for violating certain NBFC rules, while Hinduja was fined ₹4.9 lakh over KYC breaches.