In a significant regulatory move, the Reserve Bank of India (RBI) has imposed financial penalties on five prominent lenders for failing to comply with key banking guidelines. ICICI Bank, Bank of Baroda, Axis Bank, IDBI Bank, and Bank of Maharashtra are the affected institutions. The penalties, ranging from Rs. 29.60 lakh to Rs. 97.80 lakh, highlight the banks’ deficiencies in areas including cybersecurity, customer service, KYC compliance, and the handling of agricultural loan schemes.