Regulatory Alerts2026-08-31
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RBI imposes monetary penalty on The Mumbai District Central Co-operative Bank Ltd., Maharashtra
The Reserve Bank of India imposes a monetary penalty of ₹20,000 on The Mumbai District Central Co-operative Bank Ltd. for failing to upload customer Know Your Customer records onto the Central KYC Records Registry within the prescribed timeline. This action follows a statutory inspection by NABARD and supervisory findings regarding non-compliance with RBI directions. The penalty is imposed under Sections 47A(1)(c), 46(4)(i), and 56 of the Banking Regulation Act, 1949.
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