RBI imposes monetary penalty on The Karnal Central Cooperative Bank Limited, Haryana
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Summary
The Reserve Bank of India (RBI) has, by an order dated June 3, 2026, imposed a monetary penalty of ₹3 lakh (Rupees Three Lakh only) on The Karnal Central Cooperative Bank Limited, Haryana (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949. The statutor