State-owned Punjab National Bank (PNB), Federal Bank and two other banks were penalised for non-compliance with certain regulatory norms by the Reserve Bank of India. While a fine of Rs 72 lakh was imposed on PNB, private sector Federal Bank faced a penalty of Rs 30 lakh. 

It has also imposed a penalty of Rs 10 lakh on Mercedes-Benz Financial Services India Private Ltd (formerly known as Daimler Financial Services India Private Ltd) for non-compliance with certain provisions of the Know Your Customer (KYC) Direction, 2016.

The RBI also said a monetary penalty of Rs 13.38 lakh has been imposed on Kosamattam Finance Ltd, Kottayam, for non-compliance with certain provisions of the 'Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016'.