RBI imposes monetary penalty on Jalna District Central Co-operative Bank Ltd., Maharashtra
The Reserve Bank of India (RBl) has, by an order dated August 25, 2026, imposed a monetary penalty of ₹50,000 (Rupees Fifty Thousand only) on Jalna District Central Co-operative Bank Ltd., Maharashtra (the bank), for non-compliance with certain directions issued by RBI on 'Membership of Credit Information Companies (CICs) by Co-operative Banks' and 'Know Your Customer (KYC)'. This penalty has…
On August 25, 2026, the Reserve Bank of India (RBI) imposed a monetary penalty of ₹50,000 on Jalna District Central Co-operative Bank Ltd. in Maharashtra for not adhering to certain RBI directives. The penalty was issued after a statutory inspection conducted by the National Bank for Agriculture and Rural Development (NABARD) evaluated the bank's financial position as of March 31, 2025.
The RBI found that the bank had not reported credit information of its borrowers to all Credit Information Companies and had not conducted periodic reviews of risk categorisation of accounts at least every six months. This action aimed to address regulatory compliance deficiencies and was not a judgment on the validity of any transactions or agreements between the bank and its customers. The RBI reserves the right to take further action against the bank, if necessary.
Written by urgent.news from Reserve Bank of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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