The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 5 lakh on The Monghyr-Jamui Central Co-operative Bank Limited, Bihar, for failing to comply with its Know Your Customer (KYC) directions.

The penalty was imposed through an order dated September 25, 2026, under the provisions of the Banking Regulation Act, 1949, after the RBI found that the bank had failed to upload customers’ KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline.

The non-compliance was identified during a statutory inspection conducted by the National Bank for Agriculture and Rural Development (NABARD), based on the bank’s financial position as of March 31, 2026. The RBI said the penalty relates to regulatory compliance deficiencies and does not question the validity of transactions or agreements entered into by the bank with its customers.