RBI imposes monetary penalty on The Anantnag Central Co-operative Bank Ltd., Jammu and Kashmir
Case Brief
By an order dated March 12, 2025, RBI imposed a monetary penalty of ₹1.00 lakh on The Anantnag Central Co-operative Bank Ltd., Jammu and Kashmir. The penalty followed supervisory findings that the bank had violated specific RBI directions prohibiting acceptance of fresh deposits. RBI stated that the action was taken under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, after considering the bank’s reply to a show-cause notice.
RBI imposed a monetary penalty after supervisory findings and a show-cause process established that the bank had not complied with specific RBI directions prohibiting acceptance of fresh deposits. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
Severity Assessment
This is a monetary penalty of ₹1 lakh, which falls in the lowest monetary band (severity 1), with no additional structural restriction beyond the fine itself.
The bank must bear the ₹1 lakh penalty, but the release does not announce any new operational restriction. The underlying finding signals non-compliance with RBI directions, and RBI has reserved the right to initiate any further action it deems appropriate.
Published as The Anantnag Central Co-operative Bank Ltd., Jammu and Kashmir
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