RBI imposes monetary penalties on the Bank over currency chest operational guidelines
RBI has imposed monetary penalties on the Bank over operational guidelines of Currency Chests.
By ScoutQuest · · 1 min read
- RBI Monetary Penalties
- ₹ 2,91,750/- (09.09.2026), ₹ 1,33,800/-, ₹ 1,34,600/- and ₹ 2,99,600/- (all 11.09.2026)
- Reason for Penalty
- non-compliance with operational guidelines of Currency Chests as per RBI Master Directions
- Stated Impact
- impact is only to the extent of the penalty amount
RBI monetary penalties on currency chest operations
What the update says
The Bank has informed the stock exchanges that the Reserve Bank of India has imposed monetary penalties on it. The stated reason is non-compliance with operational guidelines of Currency Chests as per Master Directions of RBI. The action taken is described as the imposition of monetary penalties.
The four penalties
- ₹ 2,91,750/-, imposed on 09.09.2026
- ₹ 1,33,800/-, imposed on 11.09.2026
- ₹ 1,34,600/-, imposed on 11.09.2026
- ₹ 2,99,600/-, imposed on 11.09.2026
The date of receipt of the direction or order is recorded as 09.09.2026 and 11.09.2026.
What a currency chest is
A currency chest is a facility where currency notes and coins are kept on behalf of the Reserve Bank of India. Banks that maintain currency chests follow RBI's operational guidelines on how this cash is handled, stored and reported. A penalty in this area relates to those day-to-day cash operations.
The Bank's explanation
The Bank has said the matter is purely operational in nature. The penalty amount was directly debited from the Bank's account maintained with RBI, and these debits were traced at the time of periodic reconciliation. The Bank adds that it is strengthening its reporting systems to ensure timely identification of such deductions in the future.
Impact as stated
The Bank has said the impact on its financial, operational or other activities is only to the extent of the amount of penalty.
What to take away
- The action is monetary, and the Bank has said the impact is limited to the penalty amounts.
- The stated cause is operational, relating to currency chest guidelines.
- The Bank has said it is improving its reporting systems to identify such deductions on time.
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23 Oct 2026
PNB MD Ashok Chandra said domestic NIM grew 10 basis points and global NIM grew 8 basis points this quarter due to liquidity management and shedding low-yielding advances
19 Oct 2026
PNB MD & CEO Ashok Chandra said margin improvement driven by liquidity and deposit cost management, with NIM expansion seen
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More numbers
- Penalty imposed on 09.09.2026₹ 2,91,750/-
- Penalty imposed on 11.09.2026₹ 1,33,800/-
- Penalty imposed on 11.09.2026₹ 1,34,600/-
- Penalty imposed on 11.09.2026₹ 2,99,600/-
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