News Details

( As on 05/09/2025 12:00)

RBI fines Dakshin Dinajpur District Central Co-op Bank Rs 5.5 Lakh for KYC Violations

The Reserve Bank of India (RBI), through an order dated September 2, 2025, has imposed a monetary penalty of Rs 5.5 lakh on The Dakshin Dinajpur District Central Co-operative Bank Limited, West Bengal, for non-compliance with KYC guidelines.

The action followed a NABARD inspection of the bank’s financials as of March 31, 2024, which revealed lapses including failure to conduct periodic reviews of risk categorisation of accounts (at least once every six months) and failure to upload customer KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline.

RBI clarified that the penalty is for regulatory compliance deficiencies and does not affect the validity of transactions or agreements between the bank and its customers.