Case Brief
RBI, by an order dated March 17, 2026, imposed a monetary penalty of ₹50,000 on The Pali District Central Co-operative Bank Ltd., Rajasthan. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act after NABARD’s statutory inspection and subsequent supervisory proceedings found non-compliance with RBI directions on Know Your Customer (KYC). The sustained violation was the bank’s failure to put in place a system for periodic review of the risk categorisation of accounts at least once in six months.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Pali, Rajasthan
- Order Date