Case Brief
RBI, by order dated September 25, 2026, imposed a monetary penalty of ₹5 lakh on The Monghyr-Jamui Central Co-operative Bank Limited, Bihar. The penalty was levied for non-compliance with RBI directions on Know Your Customer (KYC), specifically for failing to upload customer KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline. The action was taken under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, after inspection and subsequent show-cause proceedings.
Action Snapshot
- Primary Impact
- Fine: Rs 5.00 L
- Entity Type
- Co-operative bank
- Location
- Bihar
- Order Date