Case Brief
What Happened
The Reserve Bank of India imposed a monetary penalty of ₹1 lakh on Jila Sahakari Kendriya Bank Maryadit, Narmadapuram, Madhya Pradesh, by order dated August 26, 2025. The action was taken for contravention of Section 26A read with Section 56 of the Banking Regulation Act, 1949, after a NABARD statutory inspection found non-compliance. RBI concluded that the bank had failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time, and imposed the penalty under Section 47A(1)(c) and Section 46(4)(i) read with Section 56 of the BR Act.