RBI fines IndusInd Bank ₹4.5 crore for violating norms

The Reserve Bank of India (RBI) has fined IndusInd Bank ₹4.5 crore for non-compliance of certain norms. RBI said IndusInd didn't comply with certain ‘Exposure Norms’, ‘Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances', among others. RBI clarified that the deficiencies were in regulatory compliance and not in customer-bank transactions.