India, Oct. 27 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 lakh on The Valparai Co-operative Urban Bank Ltd., Coimbatore, Tamil Nadu, for non-compliance with the central bank's 'Know Your Customer (KYC)' guidelines.
The penalty, issued through an order dated October 23, 2025, was levied under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
An RBI inspection, conducted with reference to the bank's financial position as on March 31, 2024, revealed that the bank failed to upload customer KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline.
After examining the bank's written response and hearing its oral submissions, the RBI found the v...