RBI imposes monetary penalty on Jilla Sahakari Kendriya Bank Maryadit, Shajapur, Madhya Pradesh

Case Brief

The Reserve Bank of India imposed a monetary penalty on Jilla Sahakari Kendriya Bank Maryadit, Shajapur, Madhya Pradesh by order dated July 21, 2026. The action followed NABARD’s statutory inspection and a show-cause process, after RBI found that the bank had contravened section 26A read with section 56 of the Banking Regulation Act, 1949 by failing to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed period. RBI noted that the penalty was based on deficiencies in statutory compliance and did not pronounce on the validity of any transaction or agreement.