IDBI Bank: RBI Imposes ₹36.3 Lakh Penalty for FEMA Non-Compliance

🏦 The Reserve Bank of India (RBI) has imposed a ₹36.3 lakh penalty on

for failing to conduct due diligence on inward remittances from a foreign currency account, violating FEMA regulations. The penalty was levied after reviewing the bank's response to a Show Cause Notice.