The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 5 lakh on Rampur Jilla Sahkari Bank Ltd., Uttar Pradesh, for violating provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949.
The penalty, issued through an order dated October 3, 2025, follows a NABARD inspection that revealed the bank’s failure to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed timeframe.
RBI clarified that the action is based on statutory compliance deficiencies and does not affect the validity of any transactions or agreements entered into by the bank.