RBI Imposes ₹50,000 Penalty on Amravati District Central Cooperative Bank from Maharashtra
Moneylife Digital Team 11 August 2026
Reserve Bank of India (RBI) has imposed a ₹50,000 penalty on Maharashtra-based Amravati District Central Cooperative (DCC) Bank Ltd for non-compliance with certain directions on know-your-customer (KYC) norms, reasonableness of bank charges and charges levied for sending SMS alerts.
 
The statutory inspection of Amravati DCC Bank, conducted by National Bank for Agriculture and Rural Development (NABARD) with reference to the lender’s financial position as on 31 March 2025, revealed that the DCC Bank had allotted multiple customer identification codes (CICs) to certain customers instead of assigning a unique customer identification code (UCIC) to each customer.
 
The inspection also found that Amravati DCC Bank had levied SMS alert charges on certain customers despite not sending them SMS alerts.
 
After considering Amravati DCC Bank's reply to the notice, the oral submissions made during the personal hearing, and the additional submissions made by it, RBI says the charges against the lender are sustained and warrant the imposition of a monetary penalty.
 
However, the banking regulator clarified that its action against Amravati DCC Bank is based on deficiencies in regulatory compliance and is not intended to pronounce on the validity of any transactions or agreements entered into by the Bank with its customers. Further, imposition of a monetary penalty is without prejudice to any other action that may be initiated against the Bank, RBI added.
 
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