RBI · Enforcement
RBI imposes ₹1 lakh penalty on Jilla Sahakari Kendriya Bank
Bank failed to transfer eligible unclaimed amounts to Depositor Education and Awareness Fund within prescribed period
What changed
- RBI imposed monetary penalty of ₹1 lakh on Jilla Sahakari Kendriya Bank Maryadit
- Penalty for contravention of section 26A read with section 56 of Banking Regulation Act, 1949
The read
RBI has penalised Jilla Sahakari Kendriya Bank ₹1 lakh for failing to transfer unclaimed deposits to the Depositor Education and Awareness Fund on time. The violation was flagged during a NABARD inspection. This is a routine enforcement action, not a judgment on the bank's customer dealings. But the penalty signals RBI's strict enforcement of statutory rules, even for small cooperative banks.
Key numbers
- Penalty amount: ₹1 lakh
- Order date: July 21, 2026
Primary source: rbi.org.in