Case Brief
By an order dated October 23, 2025, RBI imposed a monetary penalty of ₹1 lakh on The Valparai Co-operative Urban Bank Ltd., Coimbatore, Tamil Nadu. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949 after RBI’s statutory inspection, conducted with reference to the bank’s financial position as on March 31, 2024, found non-compliance with RBI’s KYC directions. RBI held that the bank had failed to upload customers’ KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Coimbatore, Tamil Nadu