India, Sept. 1 -- The Reserve Bank of India (RBl) has imposed, by an order dated August 26, 2025, a monetary penalty of Rs 1 lakh (Rupees One Lakh only) on Jilla Sahakari Kendriya Bank Maryadit, Ujjain, Madhya Pradesh (the bank) for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) and Section 46(4)(i) read with Section 56 of the BR Act.
The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD), with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with st...