Himachal Pradesh State Co‑op Bank Penalised ₹7.5L

RBI imposed a monetary penalty of ₹7,50,000 on Himachal Pradesh State Co‑operative Bank Ltd for non‑compliance with KYC directions.
The bank failed to implement a periodic risk‑categorisation review of accounts at least once every six months, breaching RBI guidelines.
Penalty follows a NABARD statutory inspection of the bank’s financial position as of 31 March 2025 and RBI supervisory findings.
RBI exercised powers under Sections 47A(1)(c), 46(4)(i) and 56 of the Banking Regulation Act, reserving right for further action.