The Reserve Bank of India imposed a monetary penalty of Rs 2 crore on IDFC Bank for contravention of regulatory restrictions pertaining to loans and advances. The penalty has been imposed in the exercise of powers vested in RBI under the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to certain directions issued by RBI.

The Reserve Bank of India (RBI) clarifies that linking bank accounts to Aadhaar is mandatory under the Prevention of Money Laundering Act,
dismissing media reports which suggested that such a linkage is not mandatory. The government had notified under PMLA that every bank account should be linked to Aadhaar by 31 December, failing which the accounts will become inoperative. The government in June had made
Aadhaar mandatory for opening bank accounts as well as for any financial transaction of Rs. 50,000 and above.

IndusInd Bank, in association with MobiKwik, announced the launch of a co-branded wallet 'IndusInd MobiKwik' that allows its customers to pay at the MobiKwik merchant network using their accounts, with a 'Direct Debit Feature'. The direct debit feature will allow IndusInd Bank account holders to link their accounts just once and pay using the co-branded app as and when required, thereby eliminating the need to load the MobiKwik prepaid wallet separately.

Reserve Bank of India (RBI) issued revised guidelines on Interest Subvention Scheme under Deendayal Antyodaya Yojana - National Rural
Livelihoods Mission (DAY-NRLM), stating that banks will provide funds to women Self Help Groups (SHGs) in rural areas at 7 per cent under the DAY-NRLM in current fiscal, 2017-18. These guidelines will be implemented by 21 public sector banks and 19 private banks. Women SHGs
availing credit up to Rs. 3 lakh rupees will be eligible for this interest subvention scheme.