The Bihar Awami Co-operative Bank Ltd

RBI imposed a monetary penalty of ₹1.50 lakh on The Bihar Awami Co-operative Bank Ltd., Patna. The action was for BR Act contraventions and non-compliance with KYC directions.

The bank must absorb the monetary penalty and address the compliance lapses identified by RBI. The action does not itself impose an operational restriction, but it signals further supervisory scrutiny and potential additional action if similar deficiencies continue.

• 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 BR Act

RBI imposed a ₹5 lakh penalty on The Bihar Awami Co-operative Bank Ltd. for regulatory violations. The breaches related to KYC directions and guidelines on exchange of Specified Bank Notes.

The bank must absorb the ₹5 lakh penalty; the release does not mention any new operational restriction or customer-specific remedy. The action signals RBI’s compliance expectations on KYC and specified bank note exchange processes, but it does not by itself impose a continuing business curtailment.

• Section 47 A read with Section 46 (4) and Section 56 of the Banking Regulation Act, 1949 (AACS)