RBI Penalises Davanagere Co‑op Bank ₹1.5 Lakh

RBI imposed a ₹1.5 lakh monetary penalty on The Davanagere District Central Co‑operative Bank Ltd for KYC violations and share‑holding breaches.
Violations cited were holding shares in other co‑operative societies, assigning multiple customer IDs, and not uploading KYC records to CKYCR.
The penalty follows a NABARD‑led statutory inspection of the bank’s March 31 2025 financials and a show‑cause hearing by RBI.
This enforcement action highlights RBI’s strict oversight under the Banking Regulation Act, signaling heightened compliance focus for the banking sector.