Case Brief
The Reserve Bank of India imposed a monetary penalty on The Bathinda Central Co-operative Bank Ltd., Bathinda, Punjab by an order dated May 30, 2025. The penalty was levied after a NABARD statutory inspection and a subsequent show-cause notice process, which concluded that the bank had contravened Section 26A read with Section 56 of the Banking Regulation Act, 1949 by failing to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time. RBI stated that the penalty is based on statutory compliance deficiencies and does not pronounce on the validity of customer transactions.
Action Snapshot
- Primary Impact
- Fine: Rs 3.00 L
- Entity Type
- Co-operative bank
- Location
- Bathinda, Punjab