India, Dec. 5 -- The Reserve Bank of India (RBI) has, by an order dated December 01, 2025, imposed a monetary penalty of ?99.30 lakh (Rupees Ninety nine lakh thirty thousand only) on Jammu and Kashmir Bank Limited (the bank) for contravention of the provisions of section 26A of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on 'Internal Ombudsman Scheme 2018', 'Customer Service in Banks', and 'Know Your Customer (KYC) Directions'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A(1)(c) read with Section 46(4)(i) of the BR Act.
The Statutory Inspection for Supervisory Evaluation of the bank was conducted by RBI with reference to its f...