The Reserve Bank of India (RBI) vide its letter dated September 25, 2023 has informed that a monetary penalty of INR 10.00 million has been imposed on Punjab & Sind Bank (the Bank) for non-compliance with the provisions of sub- section (2) of Section 26A of the Banking Regulation Act, 1949 (BR Act) read with directions issued by RBI on ?The Depositor Education and Awareness Fund Scheme, 2014-Section 26A of Banking Regulation Act, 1949-Operational Guidelines'. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A (1) (c) read with Sections 46(4) (i) and 51(1) of the BR Act.