Case Brief
By an order dated May 22, 2026, RBI imposed a monetary penalty of ₹2 lakh on The Jalore Central Co-operative Bank Limited, Rajasthan under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act. The penalty followed a statutory inspection by NABARD and a show-cause process. RBI found that the bank failed to maintain a system for periodic review of risk categorisation of accounts and failed to carry out periodic KYC updation of customers as required by RBI directions.
Action Snapshot
- Primary Impact
- Fine: Rs 2.00 L
- Entity Type
- Co-operative bank
- Location
- Jalore, Rajasthan
- Order Date