RBI imposes monetary penalty on The City Co-operative Bank, Hassan, Karnataka
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Official government notification — a formal executive order that operationalises policy decisions. Carries legal weight and specifies rules, dates, exemptions, or procedural requirements.
Summary
The Reserve Bank of India (RBI) has, by an order dated July 17, 2026, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The City Co-operative Bank, Hassan, Karnataka (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 BR Act. The statutory inspection of the ba
Key Facts
TypeNotification
SourceReserve Bank of India
PublishedThursday, 23 July 2026
Affected Population~850 million internet users, 75,000+ startups
Key Numbers
Rs 15,000 crore for Digital India initiatives
UPI: 14 billion monthly transactions
850 million+ Aadhaar-linked mobiles
GDP: $3.9 trillion (2025 est.)
Key Authorities
Ministry of Electronics & ITTRAICERT-InMinistry of FinanceRBI
Key Stakeholders
Internet UsersTech CompaniesStartupsTaxpayersBanks & NBFCsInvestors
Government Context
NDA IIIBJP-led NDA
Centre-Right
LeftCentreRight
Amendment History
1 change recorded for this policy.
DescriptionMonday, 27 July 2026via rbi
The Reserve Bank of India (RBI) has, by an order dated July 17, 2026, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The City Co-operative Bank, Hassan, Karnataka (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 BR Act. The statutory inspection of the ba
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