Case Brief
By an order dated August 19, 2025, RBI imposed a monetary penalty of ₹50,000 on The Kalaburagi and Yadgir District Co-operative Central Bank Limited, Karnataka. The penalty was levied under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, following NABARD’s statutory inspection and supervisory findings of non-compliance with RBI’s KYC directions. RBI sustained the charge that the bank had failed to upload customer KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Karnataka
- Order Date