RBICivil Money Penaltylow

Shajapur Jilla Sahakari Kendriya Bank Maryadit

Madhya Pradesh, India

The Reserve Bank of India imposed a penalty of ₹1 lakh on Shajapur Jilla Sahakari Kendriya Bank Maryadit, a cooperative bank based in Madhya Pradesh. The action, announced on Jul 28, 2026, followed an inspection that found the bank had failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund (DEA Fund) within the prescribed period. The violation breached RBI directions on the handling of unclaimed deposits.

60 lakh. RBI stated the penalty is based on deficiencies in regulatory compliance and is not intended to affect the validity of any transaction or agreement entered into with customers.

Implications
  1. Highlights RBI enforcement of DEA Fund transfer obligations for cooperative banks
  2. Even small penalties signal that no compliance lapse is beneath RBI's enforcement radar
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