RBI Penalises Mysore Co-operative Bank ₹1 Lakh

RBI imposed a penalty of ₹1 lakh on Mysore and Chamarajnagar District Co‑operative Central Bank Ltd for KYC violations and shareholding breach.
The penalty follows a NABARD‑conducted statutory inspection of the bank’s financial position as of 31 March 2025, citing breaches of the Banking Regulation Act.
RBI found the bank held shares in a co‑operative society and did not upload KYC records to the KYC Registry on time.
The enforcement underscores RBI’s regulatory vigilance, though it does not affect the validity of existing transactions or agreements with the bank’s customers.