Jammu and Kashmir Bank Limited

RBI has imposed a monetary penalty of ₹99.30 lakh on Jammu and Kashmir Bank Limited. The action was based on non-compliance with internal ombudsman, customer service, DEA Fund, and KYC-related requirements.

The bank must absorb the monetary penalty and address the compliance gaps identified by RBI in complaint handling, customer communication, DEA Fund transfers, and V-CIP onboarding controls. The release does not impose a new operational ban, but RBI reserves the right to initiate further action if warranted.

• section 26A of the Banking Regulation Act, 1949
• Section 47 A(1)(c) read with Section 46(4)(i) of the BR Act

RBI imposed a penalty of Rs 3.318 crore on Jammu and Kashmir Bank Limited for multiple compliance lapses. The breaches involved BSBDA, KYC/beneficial ownership, small-account operations, and lending restrictions.

The bank must absorb the monetary penalty and address the compliance lapses identified by RBI. The order does not by itself void customer transactions, but it signals supervisory concerns and leaves RBI free to take any further action it may consider appropriate.

• Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949

RBI imposed a Rs 2.5 crore penalty on Jammu and Kashmir Bank Limited for multiple compliance failures. The lapses involved CRILC reporting, lending restrictions, and SWIFT controls.

Jammu and Kashmir Bank Limited must bear the monetary penalty and address the control and compliance weaknesses identified by RBI. The order does not invalidate customer transactions, but it signals heightened regulatory scrutiny over reporting, lending diligence, and SWIFT/CBS controls going forward.

• section 47 A (1) (c) read with section 46 (4) (i) of the Banking Regulation Act, 1949

RBI imposed a monetary penalty on The Jammu and Kashmir Bank Ltd. for non-compliance with IRAC and KYC/AML directions.

The bank must absorb the ₹30 million penalty and address the compliance deficiencies identified by RBI. The action does not invalidate customer transactions, but it underscores ongoing obligations to comply with IRAC and KYC/AML requirements.

• Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949

RBI imposed a Rs. 5 lakh penalty on Jammu and Kashmir Bank Ltd. for a Banking Regulation Act violation related to Letter of Credit exposure.

The bank must absorb the monetary penalty and the enforcement finding on its compliance record. No operational restriction is described, but the case signals heightened expectations around connected-party governance and exposure controls for future LC and credit decisions.

• Section 47 A (1)(b) of the Banking Regulation Act 1949
• Sec 20(1) of Banking Regulation Act 1949