The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2.50 lakh on Jilla Sahakari Kendriya Bank Maryadit, Bhind, Madhya Pradesh, for non-compliance with provisions of the Banking Regulation Act, 1949.

The penalty was imposed through an order dated August 11, 2026, under the relevant provisions of the Banking Regulation Act. The action followed a statutory inspection of the bank conducted by the National Bank for Agriculture and Rural Development (NABARD), with reference to its financial position as of March 31, 2025.

Based on supervisory findings and subsequent correspondence, the RBI issued a show-cause notice to the bank. After examining the bank’s response, additional submissions and oral representations made during a personal hearing, the central bank found that the bank had failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed period.

The RBI clarified that the penalty relates to statutory compliance deficiencies and does not question the validity of any transactions or agreements entered into by the bank with its customers. The penalty is also without prejudice to any other action that may be initiated by the RBI against the bank.