Case Brief
In an order dated September 15, 2025, RBI imposed a monetary penalty of Rs 4.50 lakh on Chandrapur District Central Co-operative Bank Ltd., Maharashtra. The penalty was issued after NABARD-conducted statutory inspection findings and a show-cause process. RBI said the bank contravened Section 26A read with Section 56 of the Banking Regulation Act, 1949 and failed to comply with certain RBI KYC directions. The sustained violations included delayed transfer of eligible unclaimed amounts to the Depositor Education and Awareness Fund, delayed upload of KYC records to CKYCR, and allotment of multiple customer identification codes instead of UCICs.
Action Snapshot
- Primary Impact
- Fine: Rs 4.50 L
- Entity Type
- Co-operative bank
- Location
- Chandrapur, Maharashtra