Case Brief
RBI, by order dated August 25, 2026, imposed a monetary penalty on The Mumbai District Central Co-operative Bank Ltd., Maharashtra under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949. The penalty followed a statutory inspection by NABARD and subsequent supervisory findings that the bank had not complied with RBI directions on KYC. The sustained violation was the bank’s failure to upload customer KYC records to the Central KYC Records Registry within the prescribed timeline.
Action Snapshot
- Primary Impact
- Fine: Rs 20,000
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date