RBI · Enforcement
RBI fines Sultanpur Jilla Sahkari Bank ₹3 lakh for compliance lapses
Penalty for failure to submit credit information to CICs, inadequate KYC, and delayed transfer of unclaimed deposits.
What changed
- RBI imposed a ₹3 lakh monetary penalty on the bank.
- Bank failed to submit credit information to all four CICs.
- Bank lacked system for effective identification and reporting of suspicious transactions.
The read
RBI has fined Sultanpur Jilla Sahkari Bank ₹3 lakh for multiple regulatory breaches, including failure to submit borrower data to all four credit information companies and inadequate KYC systems. The bank also delayed transferring unclaimed deposits to the Depositor Education and Awareness Fund. These are basic compliance requirements for any scheduled bank. The penalty reflects RBI's zero-tolerance for lapses in credit reporting and anti-money laundering frameworks.
Key numbers
- Penalty: ₹3 lakh
- Inspection reference date: March 31, 2025
- Order date: June 19, 2026
Primary source: rbi.org.in