The Reserve Bank of India (RBI) has imposed monetary penalties on two financial institutions for regulatory non-compliance. IndusInd Bank was fined ₹27.3 lakh for issues related to the opening of savings deposit accounts in the names of ineligible entities. Additionally, Manappuram Finance received a penalty of ₹20 lakh due to failures in verifying the Permanent Account Numbers (PAN) of customers as required by RBI regulations. These actions reflect the RBI's ongoing efforts to enforce compliance among banks and non-banking financial companies.