India, Aug. 31 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 20,000 on The Mumbai District Central Co-operative Bank Ltd., Maharashtra, for non-compliance with certain Know Your Customer (KYC) directions.
The penalty was imposed through an order dated August 25, 2026, under provisions of the Banking Regulation Act, 1949.
A statutory inspection of the bank was conducted by NABARD with reference to its financial position as of March 31, 2025. Following the inspection and review of the bank's submissions, RBI found that the bank had failed to upload customers' KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline.
RBI said the penalty relates to regulatory compliance deficiencies an...