RBI · Enforcement
RBI penalises Nawada Central Co-operative Bank ₹50,000 for KYC lapses
The penalty is for failing to upload KYC records to the Central KYC Records Registry within the prescribed timeline.
What changed
- RBI imposed monetary penalty of ₹50,000 on The Nawada Central Co-operative Bank
- Penalty for non-compliance with KYC directions on uploading records to CKYCR
- Action based on inspection by NABARD as of March 31, 2025
The read
RBI has fined The Nawada Central Co-operative Bank ₹50,000 for missing the deadline to upload customer KYC records to the Central KYC Records Registry. The penalty, passed on July 2, 2026, follows a NABARD inspection showing the bank’s March 31, 2025 financial position. This is a small fine but a clear signal that cooperative banks must adhere to KYC timelines or face enforcement.
Key numbers
- Penalty: ₹50,000
- Order date: July 02, 2026
- Inspection date: March 31, 2025
Primary source: rbi.org.in