India, Aug. 28 -- The Reserve Bank of India (RBI) has imposed a Rs 50,000 monetary penalty on Jalna District Central Co-operative Bank Ltd., Maharashtra, for non-compliance with regulatory directions related to Credit Information Companies (CICs) membership and Know Your Customer (KYC) norms.
The penalty was imposed through an order dated August 25, 2026, following a statutory inspection conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to the bank's financial position as of March 31, 2025.
The RBI found that the bank had failed to report borrowers' credit information to all Credit Information Companies and had not conducted periodic reviews of the risk categorisation of accounts at least once ev...