The Jammu Central Co-operative Bank Ltd., Jammu and Kashmir

RBI imposed a penalty of ₹1 lakh on The Jammu Central Co-operative Bank Ltd., Jammu and Kashmir. The action followed the bank’s acceptance of fresh savings bank deposits in violation of specific RBI directions.

The bank must absorb the monetary penalty and remain exposed to any further supervisory or enforcement action RBI may decide to initiate. The release does not impose a new operational ban, but it underscores that the bank must continue complying with RBI’s directions on deposit acceptance, especially in savings bank accounts.

• Section 35A 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

RBI imposed a monetary penalty of ₹1 lakh on The Jammu Central Co-operative Bank Ltd., Jammu. The action was for violations relating to holding and renting out immovable properties in contravention of the Banking Regulation Act.

The bank must bear the monetary penalty; the release does not impose an operational restriction beyond the fine. The action is a compliance enforcement measure based on past inspection findings and does not comment on customer transaction validity.

• Section 6
• Section 9 read with Section 56 of the Banking Regulation Act, 1949
• Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949