Bank skipped some important requirements

HSBC didn't set up a searchable list of unclaimed deposits on its website, which is required under RBI directions for banks.
It also skipped assigning special reference numbers for certain deposits moved to the Depositor Education and Awareness (DEA) Fund maintained by the RBI, another must-do under RBI rules.

RBI is getting stricter about banks following rules

This penalty is all about making sure banks actually follow through when it comes to people's forgotten money.
While customers aren't directly affected by this fine, it signals that RBI is getting stricter, especially since the RBI's inspection covered the bank's position as of March 31, 2025.
The push now is for banks to help people reclaim their old money through outreach and easier online tools like the Udgam portal.