The Khatra People’s Co-operative Bank Ltd

RBI imposed a monetary penalty of Rs 5,000 on Khatra People’s Co-operative Bank Ltd., Khatra, West Bengal. The penalty was for non-compliance with KYC directions.

The bank must absorb the penalty and ensure future compliance with RBI KYC requirements, especially periodic review of account risk categorisation. No broader operational restriction is indicated, but the action signals continued supervisory scrutiny of its AML/KYC controls.

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

RBI imposed monetary penalties on three co-operative banks for non-compliance with exposure norms and other statutory restrictions for UCBs.

The affected co-operative banks face monetary penalties and a compliance signal from RBI regarding adherence to exposure norms and statutory restrictions applicable to urban co-operative banks. No operational restriction is described in the excerpt; the forward-looking impact is mainly financial and supervisory, with continued expectation of compliance with RBI directions.

This RBI action affected 3 entities. This profile is linked as bulk member.