Recorded RBI impact
Fine: Rs 5.00 L
Monetary penalty · Fresh imposition
Published by RBI
23 Oct 2025
Case Brief
In an order dated October 3, 2025, RBI imposed a monetary penalty of ₹5 lakh on Rampur Jilla Sahkari Bank Ltd., Uttar Pradesh. The penalty followed a statutory inspection by NABARD and subsequent supervisory proceedings, including a show-cause notice and personal hearing. RBI held that the bank had contravened Section 26A read with Section 56 of the Banking Regulation Act, 1949 by failing to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time.
Why RBI Acted
RBI imposed a monetary penalty after supervisory findings and a show-cause process showed that Rampur Jilla Sahkari Bank Ltd., Uttar Pradesh had contravened Section 26A read with Section 56 of the Banking Regulation Act, 1949. The sustained charge was that the bank failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.
Operating Impact
The bank must bear the penalty and continue complying with deposit-related statutory transfer requirements. The order does not itself bar operations, but it signals regulatory scrutiny and leaves open the possibility of further action by RBI if warranted.
Regulatory Basis
- Section 26A read with Section 56 of the Banking Regulation Act, 1949
- Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act
Action Facts
- Primary Impact
- Fine: Rs 5.00 L
- Order Date
- 3 Oct 2025
- Effective From
- 3 Oct 2025
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- Co-operative bank