The Karnataka State Co-operative Apex Bank Ltd., Bengaluru

RBI imposed a penalty of Rs 23.23 lakh on The Karnataka State Co-operative Apex Bank Ltd., Bengaluru. The action was for non-compliance with KYC norms and CIC-related directions.

The bank must absorb the monetary penalty; the release does not announce any operating restriction, but it signals heightened compliance expectations around KYC, suspicious transaction monitoring, and CIC reporting. Customers and counterparties are not directly restricted by this order, though the bank may face closer supervisory scrutiny going forward.

• section 47A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949
• section 25(1)(iii) read with section 23(4) of the Credit Information Companies (Regulation) Act, 2005

RBI imposed a monetary penalty of Rs 25 lakh on The Karnataka State Co-operative Apex Bank Ltd., Bengaluru for non-compliance with its housing finance directions.

The bank must absorb the monetary penalty and address the compliance lapse identified by RBI. The order does not itself restrict future operations, but it signals supervisory concern over housing finance compliance and may expose the bank to further action if similar breaches recur.

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