The Jammu and Kashmir State Co-operative Bank Limited, Srinagar, Jammu and Kashmir

RBI has imposed a ₹2 lakh penalty on The Jammu and Kashmir State Co-operative Bank Ltd., Srinagar for KYC non-compliance. The bank failed to obtain Officially Valid Documents while establishing customer relationships.

The bank must bear the monetary penalty and address the KYC compliance weakness identified by RBI. There is no stated operational restriction in this release, but the action signals continued supervisory scrutiny and possible further RBI action if similar deficiencies persist.

• Section 47A(1)(c)
• Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949

RBI imposed a ₹30 lakh penalty on The Jammu and Kashmir State Co-operative Bank Limited, Srinagar. The penalty was for non-compliance with RBI directions on income recognition, asset classification, provisioning and related matters.

The bank must absorb the monetary penalty; the release does not describe a business restriction or suspension of operations. The action is forward-looking only in the sense of financial cost and regulatory censure, with no stated direct impact on depositors or borrowers.

• Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949