The Kendrapara Urban Cooperative Bank, Kendrapara

RBI imposed a Rs 50,000 penalty on The Kendrapara Urban Co-operative Bank Ltd., Kendrapara, Odisha. The penalty was for non-compliance with RBI directions on the Depositor Education and Awareness Fund.

The bank must absorb the penalty and continue complying with RBI’s directions on transfer of eligible balances to the Depositor Education and Awareness Fund. The action does not impose a business restriction, but it signals continued regulatory scrutiny of the bank’s compliance and reporting processes.

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

RBI imposed a ₹1 lakh penalty on The Kendrapara Urban Cooperative Bank, Kendrapara for non-compliance with KYC directions. The bank had failed to periodically review the risk categorisation of customer accounts.

The bank must absorb the penalty and continue complying with RBI KYC requirements, including periodic review of customer account risk categorisation. The order does not invalidate transactions or agreements, but it signals regulatory non-compliance and may increase supervisory scrutiny.

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