RBI imposes monetary penalty on The Nawada Central Co-operative Bank Limited, Bihar

Case Brief

The Reserve Bank of India imposed a monetary penalty on The Nawada Central Co-operative Bank Limited, Bihar by order dated July 02, 2026. The penalty was levied under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949 after RBI’s supervisory findings showed non-compliance with its KYC directions. The sustained violation was the bank’s failure to upload customer KYC records to the Central KYC Records Registry within the prescribed timeline.