India, Aug. 14 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2.50 lakh on Jilla Sahakari Kendriya Bank Maryadit, Bhind, Madhya Pradesh, for non-compliance with provisions of the Banking Regulation Act, 1949.
The penalty was imposed through an order dated August 11, 2026, under the relevant provisions of the Banking Regulation Act. The action followed a statutory inspection of the bank conducted by the National Bank for Agriculture and Rural Development (NABARD), with reference to its financial position as of March 31, 2025.
Based on supervisory findings and subsequent correspondence, the RBI issued a show-cause notice to the bank. After examining the bank's response, additional submissions and oral representation...