RBI imposes monetary penalty on The Monghyr-Jamui Central Co-operative Bank Limited, Bihar
In short
On September 25, 2026, the Reserve Bank of India imposed a monetary penalty of ₹5 lakh on The Monghyr-Jamui Central Co-operative Bank Limited, Bihar, for non-compliance with RBI directions on Know Your Customer. The statutory inspection of the bank was conducted by NABARD with reference to its financial position as on March 31, 2026, and RBI said the bank had failed to upload customer KYC records onto the Central KYC Records Registry within the prescribed timeline. In simple terms, the bank was fined because it did not put customer identity records into the required central system on time. The penalty order is dated September 25, 2026.
Why it matters
An enforcement action names the entity, the provision breached and the amount or restriction imposed. A penalty is a finding about past conduct and the order itself states what was found — it is not, on its own, a statement about the entity's current financial position. This classification and note were written here from Reserve Bank of India's own published document.