Case Brief
RBI, by order dated September 24, 2025, imposed a monetary penalty on The Begusarai Central Co-operative Bank Limited, Begusarai, Bihar for non-compliance with RBI directions on Know Your Customer (KYC). The bank was found to have failed to upload customer KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline. 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 and after considering the bank’s reply and oral submissions.
Action Snapshot
- Primary Impact
- Fine: Rs 1.40 L
- Entity Type
- Co-operative bank
- Location
- Begusarai, Bihar
- Order Date