RBI imposed a ₹1.5 lakh monetary penalty on Jilla Sahakari Kendriya Bank Maryadit for regulatory KYC and fund‑transfer violations.
The penalty order dated May 12 2026 cites non‑compliance with Section 26A, Section 56 of the Banking Regulation Act and RBI directions.
NABARD’s statutory inspection, based on the bank’s March 31 2025 financials, identified failure to transfer unclaimed amounts to the Depositor Education and Awareness Fund.
The bank also neglected bi‑annual risk‑categorisation reviews, prompting RBI to issue a show‑cause notice and impose the fine.