Case Brief
What Happened
By an order dated November 14, 2025, RBI imposed a monetary penalty on The Nawada Central Co-operative Bank Limited, Bihar after supervisory inspection and show-cause proceedings. RBI said the bank contravened Section 26A read with Section 56 of the Banking Regulation Act, 1949 and did not comply with directions on 'Membership of Credit Information Companies by Co-operative Banks'. The sustained charges were that the bank failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time and failed to submit credit information of its customers to all four Credit Information Companies. The penalty was imposed under the cited statutory powers and is stated to be without prejudice to any other action RBI may initiate.