India, May 14 -- The Reserve Bank of India (RBl) has, by an order dated May 12, 2026, imposed a monetary penalty of Rs. 1.50 lakh (Rupees One Lakh Fifty Thousand only) on Jilla Sahakari Kendriya Bank Maryadit, Seoni, Madhya Pradesh (the bank), for contravention of the provisions of Section 26A 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'. 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 the National Bank for Agriculture and Rural Development (NABARD) with r...