Recorded RBI impact
Fine: Rs 50,000
Monetary penalty · Fresh imposition
Published by RBI
10 Nov 2025
Case Brief
By an order dated November 06, 2025, RBI imposed a monetary penalty on The District Co-operative Central Bank Limited, Eluru, Andhra Pradesh for non-compliance with certain KYC directions. After inspection by NABARD and consideration of the bank’s reply and oral submissions, RBI found that the bank had failed to upload customer KYC records to the Central KYC Records Registry within the prescribed timeline. The action was taken under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
Why RBI Acted
RBI imposed a monetary penalty after supervisory findings showed non-compliance with RBI directions on Know Your Customer (KYC). The sustained charge was that the bank did not upload KYC records of customers into the Central KYC Records Registry within the prescribed timeline. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
Operating Impact
The bank must absorb the monetary penalty and continue complying with RBI’s KYC record-upload requirements. The release does not describe any business restriction or suspension, but it signals continued supervisory scrutiny and the possibility of further action if non-compliance persists.
Regulatory Basis
- Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949
Action Facts
- Primary Impact
- Fine: Rs 50,000
- Order Date
- 6 Nov 2025
- Effective From
- 6 Nov 2025
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- Co-operative bank