MUMBAI, India, June 22 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated June 19, 2026, imposed a monetary penalty of ₹3 lakh (Rupees Three Lakh only) on Sultanpur Jilla Sahkari Bank Ltd., Uttar Pradesh (the bank) for contravention of the provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and for non-compliance with certain directions issued by RBI on 'Membership of Credit Information Companies (CICs) by Co-operative Banks' and 'Know Your Customer (KYC)'. 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 BR Act and Section 25 r...