MUMBAI, India, June 18 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated June 15, 2026, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on The Chitradurga District Co-operative Central Bank Ltd., Chitradurga, Karnataka (the bank) for contravention of provisions of Section 20 read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on '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.
The statutory inspection of the bank was conducted by ...