Case Brief
RBI, by order dated August 05, 2025, imposed a monetary penalty of Rs 3.10 lakh on Raiganj Central Co-operative Bank Limited, West Bengal. The penalty was imposed after RBI found that the bank had violated directions on KYC, including failure to upload customer KYC records to CKYCR within the prescribed timeline and issuance of multiple customer identification codes to certain customers instead of a UCIC. RBI stated that the action was based on supervisory findings and does not pronounce on the validity of any transaction or agreement.
Action Snapshot
- Primary Impact
- Fine: Rs 3.10 L
- Entity Type
- Co-operative bank
- Location
- Raiganj, West Bengal
- Order Date