MUMBAI, India, Aug. 6 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBl) has, by an order dated August 03, 2026, imposed a monetary penalty of ₹40,000/- (Rupees Forty Thousand only) on Kedarnath Urban Co-operative Bank Ltd., Latur, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on 'Know Your Customer (KYC)' and operational instructions issued under 'Supervisory Action Framework (SAF)'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
The statutory inspection of the bank was conducted by RBI with reference to its financial posit...