Tripura State Co-operative Bank Ltd

RBI imposed a monetary penalty of Rs 7.50 lakh on Tripura State Co-operative Bank Ltd. for KYC non-compliance. The bank had failed to upload customer KYC records to CKYCR within the prescribed timeline.

The bank must absorb the penalty and address the KYC control failure identified by RBI. The release does not impose any fresh operating restriction on deposits or lending, but RBI notes that the penalty is without prejudice to any other action that may be initiated later.

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

RBI imposed a penalty of Rs 50,000 on Tripura State Co-operative Bank Ltd., Agartala for non-compliance with RBI directions on membership of Credit Information Companies.

The bank must absorb the monetary penalty; the release does not indicate any operational restriction, but it confirms regulatory non-compliance in CIC membership-related directions. The consequence is financial and compliance-related rather than a constraint on day-to-day banking operations.

• clause (iii) of sub-section (1) of section 25 of the Credit Information Companies (Regulation) Act, 2005