Toll Free: 1800 103 1369 Email Us:customercare@canmoney.in

Markets

Market

News Details

(25/06/2026 19:17)

RBI fines Nabapalli Cooperative Bank Rs 3 Lakh for KYC Violations

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 3 lakh on The Nabapalli Cooperative Bank Limited, West Bengal, for non-compliance with Know Your Customer (KYC) norms.

The RBI found that the bank had failed to upload customers' KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline, violating the central bank's KYC directions.

The RBI clarified that the penalty is based on regulatory compliance deficiencies and does not affect the validity of any transactions or agreements between the bank and its customers.
Prevent Unauthorized Transactions in your demat account -> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL on the same day....................issued in the interest of investors.
KYC is one-time exercise while dealing in securities markets -> Once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
CDSL – MyEasi App App Store: https://apps.apple.com/in/app/cdsl-myeasi-app/id6737304195      Google Play Store: https://play.google.com/store/apps/details?id=com.cdsl.myeasi   |   NSDL – Speede App : App Store: https://apps.apple.com/in/app/nsdl-speede-app/id922834763      Google Play Store: https://play.google.com/store/apps/details?id=com.msf.NSDL.Android