Case Brief
By an order dated June 15, 2026, RBI imposed a monetary penalty on The Chitradurga District Co-operative Central Bank Ltd., Chitradurga, Karnataka. The bank was found to have contravened Section 20 read with Section 56 of the Banking Regulation Act, 1949 and to have failed to comply with certain RBI directions on KYC. Specifically, RBI sustained charges that the bank sanctioned director-related loans and did not upload customer KYC records to the Central KYC Records Registry within the prescribed timeline. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.
Action Snapshot
- Primary Impact
- Fine: Rs 1.50 L
- Entity Type
- Co-operative bank
- Location
- Chitradurga, Karnataka