India, Jan. 5 -- The Reserve Bank of India (RBI), by an order dated December 31, 2025, has imposed a monetary penalty of Rs 2 lakh on Jila Sahakari Bank Limited, Mau, Uttar Pradesh, for non-compliance with certain directions related to Know Your Customer (KYC) norms.
The penalty has been levied under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act. The statutory inspection of the bank was carried out 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, RBI found that the bank failed to put in place a system for periodic review of risk categorisation of accounts, at least once eve...