Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹50,000 on Jilla Sahakari Kendriya Bank Maryadit, Damoh, Madhya Pradesh, by order dated August 26, 2025. The action was taken after a statutory inspection conducted by NABARD with reference to the bank's financial position as on March 31, 2024, and followed supervisory findings, a show-cause notice, and consideration of the bank's reply and submissions. RBI sustained the charge that the bank failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time, and imposed the penalty under the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Damoh, Madhya Pradesh