Punjab & Sind Bank, Dhanlaxmi Bank & others fined ₹2.55 cr by RBI

RBI imposed monetary penalties totalling ₹2.55 crore on four banks, including Dhanlaxmi Bank and ESAF Small Finance Bank over multiple rule violations. The highest ₹1.2-crore penalty was imposed on Dhanlaxmi Bank for violations like imposing lower interest rate on certain deposits. Punjab and Sind Bank was fined ₹1 crore for sanctioning loan to a corporation without due diligence.