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Economy - January 11, 2025

Penalties surge as RBI cracks the whip on lenders

Penalties surge as RBI cracks the whip on lenders

The Reserve Bank of India (RBI) significantly increased enforcement of penalties on banks in FY24, with public sector banks paying six times more and private banks paying double the previous year. Enhanced vigilance since the near-collapse of Yes Bank has led to heightened surveillance and stricter regulatory actions, including bans on significant lenders.

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