The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 lakh on Jila Sahakari Kendriya Bank Maryadit, Narmadapuram, Madhya Pradesh, for violating provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949. The order was issued on August 26, 2025, under powers vested in RBI through Sections 47A(1)(c) and 46(4)(i) of the Act.

The penalty follows a NABARD inspection of the bank’s financials as of March 31, 2024, which revealed non-compliance with statutory norms. Specifically, the bank failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed timeframe.

RBI clarified that the action relates to deficiencies in compliance and does not impact the validity of transactions or agreements with customers. The penalty is without prejudice to any further regulatory action.