Case Brief
By an order dated September 01, 2025, RBI imposed a monetary penalty of ₹4.50 lakh on The Urban Co-operative Bank Ltd., Cuttack, Odisha. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, following supervisory findings that the bank had not complied with RBI’s KYC directions. RBI found that the bank failed to upload customer KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline.
Action Snapshot
- Primary Impact
- Fine: Rs 4.50 L
- Entity Type
- Co-operative bank
- Location
- Cuttack, Odisha
- Order Date