Jilla Sahakari Kendriya Bank Maryadit, Seoni, Madhya Pradesh

RBI imposed a monetary penalty under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, following a statutory inspection by NABARD with reference to the bank's financial position as on March 31, 2025. The bank's contraventions included non-compliance with Section 26A read with Section 56 of the BR Act and RBI's KYC directions, specifically failure to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time and failure to periodically review the risk categorisation of accounts at least once in six months.

The bank must absorb the penalty and address the compliance gaps identified by RBI, especially around unclaimed deposits and ongoing KYC/risk categorisation reviews. The release does not impose a new operational restriction, but RBI notes that other action may still be initiated separately.