Regulatory Alerts2026-08-13
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RBI imposes monetary penalty on Jilla Sahakari Kendriya Bank Maryadit
The Reserve Bank of India imposed a monetary penalty of ₹2.50 lakh on Jilla Sahakari Kendriya Bank Maryadit, Bhind, Madhya Pradesh, for contravening Section 26A read with Section 56 of the Banking Regulation Act, 1949. The penalty was levied because the bank failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed period. This action addresses deficiencies in statutory compliance and is without prejudice to any other action that may be initiated by the RBI against the bank.
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