Case Brief
By an order dated November 14, 2024, RBI imposed a penalty of Rs 50,000 on Anandeshwari Nagrik Sahkari Bank Maryadit, Ujjain, Madhya Pradesh. The bank was found non-compliant with certain RBI Know Your Customer directions: it failed to risk-categorise some customers and did not review the risk categorisation of some accounts every six months. RBI took the action after a statutory inspection with reference to the bank’s financial position as on March 31, 2023, and after considering the bank’s reply and oral submissions.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Ujjain, Madhya Pradesh
- Order Date