India, May 8 -- The Reserve Bank of India (RBI) has, by an order dated May 06, 2025, imposed a monetary penalty of Rs. 1.00 lakh (Rupees One Lakh only) on The Jammu Central Co-operative Bank Ltd., Jammu and Kashmir (the bank) for non-compliance with specific directions issued by RBI under Section 35A 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) read with Sections 46(4)(i) and 56 of the BR Act.The statutory inspection of the bank was conducted by National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compli...