India, March 25 -- The Reserve Bank of India (RBI) has, by an order dated March 20, 2026, imposed a monetary penalty of ?1 lakh (Rupees One Lakh only) on The Mysore and Chamarajnagar District Co-operative Central Bank Limited, Karnataka (the bank) for contravention of provisions of Section 19 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 (KYC)'. 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 finan...