RBI Slaps ₹50,000 Penalty on Jalna DCC Bank for CIC Reporting, Risk Review Lapses
Moneylife Digital Team 28 August 2026
The Reserve Bank of India (RBI) has imposed a penalty of ₹50,000 on Maharashtra-based Jalna District Central Cooperative (DCC) Bank for non-compliance with certain directions relating to membership of credit information companies (CICs) by cooperative banks and know-your-customer (KYC) requirements.
 
The statutory inspection of Jalna DCC Bank, conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as of 31 March 2025, revealed that the lender had failed to report its borrowers' credit information to all CICs.
 
The inspection also found that Jalna DCC Bank had failed to conduct periodic reviews of the risk categorisation of accounts at least once every six months.
 
After considering the Bank’s reply to the notice, oral submissions made during the personal hearing and examination of additional submissions made by it, RBI says the charges against Jalna DCC Bank were sustained, warranting imposition of monetary penalty.
 
However, the banking regulator clarified that its action against Jalna 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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