Case Brief
By an order dated June 22, 2026, RBI imposed a monetary penalty on The Nabapalli Cooperative Bank Limited, West Bengal for non-compliance with RBI’s KYC directions. Following supervisory findings, show-cause proceedings, and consideration of the bank’s reply and hearing submissions, RBI sustained the charge that the bank failed to 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 Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 3.00 L
- Entity Type
- Co-operative bank
- Location
- West Bengal
- Order Date