Jalna District Central Co-operative Bank Ltd., Maharashtra

RBI imposed a monetary penalty after supervisory inspection found the bank had not complied with directions on 'Membership of Credit Information Companies (CICs) by Co-operative Banks' and 'Know Your Customer (KYC)'. The sustained charges were that the bank failed to report credit information of its borrowers to all CICs and did not carry out periodic review of risk categorisation of accounts with the required six-month periodicity. The penalty was imposed under section 25(1)(iii) read with section 23(4) of the CIC Regulation Act, 2005 and section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The bank must bear the monetary penalty and continue complying with RBI directions on CIC reporting and periodic KYC/risk review. The order does not invalidate customer transactions, but it signals ongoing supervisory scrutiny and leaves open the possibility of further RBI action for the same or related compliance issues.