RBI12 Aug 2026press-releasePrepared by Complied AI

Monetary Penalty on Jilla Sahakari Kendriya Bank Maryadit

Official title

RBI imposes monetary penalty on Jilla Sahakari Kendriya Bank Maryadit, Bhind, Madhya Pradesh

Official record

Summary

What changed

The Reserve Bank of India imposes a monetary penalty of ₹2.50 lakh on Jilla Sahakari Kendriya Bank Maryadit, Bhind, Madhya Pradesh. The bank failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed period. This action follows a statutory inspection by the National Bank for Agriculture and Rural Development regarding the financial position of the bank as of March 31, 2025. The Reserve Bank of India issued a notice to the bank and considered its replies before the final decision. This penalty relates to the contravention of Section 26A read with Section 56 of the Banking Regulation Act, 1949.

Who is affected: Jilla Sahakari Kendriya Bank Maryadit, Bhind, Madhya Pradesh
Required action: The bank must transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed period.
Key dates: Date of the order imposing the penalty — 10 Aug 2026
Thresholds: The monetary penalty amount is ₹2.50 lakh.
Consequences: The bank must pay a monetary penalty of ₹2.50 lakh.

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Source details

Source: Reserve Bank of India
Type: press-release
Published by source: 12 Aug 2026
Document number: 2026-2027/884
Issuing division: Department of Communication
Coverage area: banking

Document text

Prepared for reading; wording retained from the source.

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August 13, 2026

RBI imposes monetary penalty on Jilla Sahakari Kendriya Bank Maryadit, Bhind, Madhya Pradesh

The Reserve Bank of India (RBl) has, by an order dated August 11, 2026, imposed a monetary penalty of ₹2.50 lakh (Rupees Two Lakh Fifty Thousand only) on Jilla Sahakari Kendriya Bank Maryadit, Bhind, Madhya Pradesh (the bank), for contravention of the provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI, under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.

The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2025. Based on supervisory findings of contravention of statutory provisions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said provisions. After considering the bank's reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty:

The bank had failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed period.

This action is based on deficiencies in statutory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

(Brij Raj)

Press Release: 2026-2027/884 Chief General Manager ᮧेस ᮧकाशनी PRESS RELEASE

भारतीय ᳯरज़वर् बᱹक

RESERVE BANK OF INDIA

0वेबसाइट : www.rbi.org.in/hindi संचार िवभाग, कᱶᮤीय कायार्लय, शहीद भगत ᳲसंह मागर्, फोटर्, मुंबई - 400 001 Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502

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