Global Expansion Strategies for FinTechs in Emerging Markets: A Playbook for Leaders
2nd August 2025
Exclusive
The Role of Cryptocurrencies in Cross-Border Payments
What the Future Holds for Digital-Only Banks: Navigating the Next Era of Banking
How Open Banking is Shaping Financial Services Globally
QR Codes and the Cashless Leap: Transforming India's Financial DNA
The Rise of Contactless Payments: Benefits and Security Concerns
Flipkart Gets a Lending Licence: A Bold Leap into Embedded Finance
How AI is Transforming the Credit Scoring System
.jpg)
The Future of Payments: Trends Reshaping Transactions in 2025
Biometric Payments: The Next Big Trend in Secure Transactions
The Impact of 5G on Fintech Services
The Evolution of Fintech Regulation: What’s Next?
Top Fintech Innovations Shaping 2025: The Future of Finance
Subscribers: 129
RBI Imposes Penalties on Union Bank of India and Transactree Technologies for Regulatory Non-Compliance
.jpg)
News
24 May 2025
1 min read
780
The Reserve Bank of India (RBI) has levied monetary penalties on Union Bank of India and Transactree Technologies Pvt Ltd (operating as Lendbox) for violations of regulatory guidelines.
Union Bank of India has been fined ₹63.6 lakh for non-compliance with provisions of the Banking Regulation Act, 1949, and for failing to adhere to RBI directives concerning collateral-free agricultural loans.
In a separate action, Transactree Technologies Pvt Ltd, known as Lendbox, faces a penalty of ₹40 lakh for breaching norms outlined in the Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017.
The RBI clarified that these penalties are imposed due to regulatory lapses and are not intended to question the validity of any transactions or agreements made by the entities with their customers.
These enforcement actions underscore the RBI's commitment to ensuring strict adherence to regulatory standards within India's banking and financial technology sectors.
Reference: EconomicTimes
👍 0
💬 0
Read Next
News
RBI Raises Red Flag on Bank Governance as Competitive Pressures Mount
News
RBI Proposes Simplified KYC Norms to Revive Dormant Bank Accounts
Blog
AI-Powered Finance: How Generative AI is Reshaping Fintech in 2025
News
Finhaat Launches Tech-Driven Wealth Management Platform to Empower Indian Distributors and Consumers
Analysis
🔐 Safeguarding Financial Data in FinTech: Beyond Compliance to Competitive Advantage
News
Aditya Birla Capital Targets 25% Annual Growth in Loan Book Through Digital and Retail Expansion
×
Live Polls
Live Discussion
Topic Suggestion
Whom Do You Wish To Hear
Leave your opinion / comment here