Case Brief
What Happened
By an order dated September 26, 2025, RBI imposed a monetary penalty of ₹5.50 lakh on The Gopalganj Central Co-operative Bank Limited, Bihar. The bank was penalized for contravention of Section 9 read with Section 56 of the Banking Regulation Act, 1949 and for non-compliance with RBI’s KYC directions. RBI said the bank failed to dispose of certain non-banking assets within the prescribed period and did not upload customer KYC records to CKYCR within the stipulated timeline. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.