IndusInd Bank has been penalized Rs. 2,03,000 by the Reserve Bank of India due to discrepancies found in the Soiled Note Remittance (SNR) at its Chennai Currency Chest. The penalty was levied following an examination of soiled notes received. This matter has been addressed internally and measures are being taken to prevent similar issues in the future.
Penalty for Soiled Note Discrepancy
IndusInd Bank has received a penalty from the Reserve Bank of India (RBI) amounting to Rs. 2,03,000. The penalty relates to a discrepancy identified in Soiled Note Remittance (SNR) processes at the Bank’s Currency Chest in Chennai.
Reason for the Penalty
The penalty was imposed following the detection of discrepancies during the examination of soiled notes received in remittance. The discrepancies led to the imposition of the penalty, according to the announcement dated January 28, 2026.
Details of the Order
The penalty has been levied in terms of para 2.i, ii & iii of Master Direction DCM (CC) No. G-1/03.44.01/2025-26 dated April 01, 2025 on Scheme of Penalties for bank branches and currency chests. The date of receipt of the order from the authority was January 27, 2026.
Impact
The financial impact of the penalty on the bank is Rs. 2,03,000.
Source: BSE
