Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹1 lakh on District Central Co-operative Bank Ltd., Bilaspur, Chhattisgarh by order dated August 07, 2025. The penalty was imposed after a NABARD statutory inspection, supervisory findings, a show-cause notice, and consideration of the bank's written and oral submissions. RBI held that the bank had failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time, constituting contravention of Section 26A read with Section 56 of the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Bilaspur, Chhattisgarh