RBI, on October 3, 2025, imposed a monetary penalty of ₹5 lakh on Rampur Jilla Sahkari Bank Ltd., Uttar Pradesh for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This was found during the statutory inspection by NABARD as of March 31, 2024, where the bank was found to not be in compliance with statutory provisions, specifically failing to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time. The action is based on deficiencies in statutory compliance. For more information, contact the Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001; Phone: 022 - 2266 0502. The press release number is 2025-2026/1368. Brij Raj, Chief General Manager.
Key Entities Referenced
Reserve Bank of India (RBI): The regulator imposing the monetary penalty.
Rampur Jilla Sahkari Bank Ltd.: The bank on which the monetary penalty is imposed.
Banking Regulation Act, 1949 (BR Act): The act under which the penalty is imposed. Specifically, Sections 26A, 46(4)(i), 47A(1)(c), and 56.
National Bank for Agriculture and Rural Development (NABARD): The entity that conducted the statutory inspection of the bank.
Uttar Pradesh: The state where Rampur Jilla Sahkari Bank Ltd. is located.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय �रज़वर् बैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार िवभाग, केंद्रीय कायार्लय, शहीद भगत िसंह मागर्, फोटर्, मुंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
October 23, 2025
RBI imposes monetary penalty on Rampur Jilla Sahkari Bank Ltd.,
Uttar Pradesh
The Reserve Bank of India (RBI) has, by an order dated October 3, 2025,
imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Rampur Jilla
Sahkari Bank Ltd., Uttar Pradesh (the bank) for contravention of provisions of Section
26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act). 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 bank was conducted by National Bank for
Agriculture and Rural Development (NABARD) with reference to its financial position
as on March 31, 2024. Based on supervisory findings of non-compliance with
statutory provisions and related correspondence in that regard, a notice was issued
to the bank advising it to show cause as to why penalty should not be imposed on it
for its failure to comply with the said provisions. After considering the bank’s reply to
the notice and oral submissions made during the personal hearing, RBI found, inter
alia, that the following charge against the bank was sustained, warranting imposition
of monetary penalty:
The bank had failed to transfer eligible unclaimed amounts to the Depositor
Education and Awareness Fund within the prescribed time.
This action is based on deficiencies in statutory compliance and is not intended to
pronounce upon the validity of any transaction or agreement entered into by the bank
with its customers. Further, imposition of this monetary penalty is without prejudice to
any other action that may be initiated by RBI against the bank.
(Brij Raj)
Press Release: 2025-2026/1368 Chief General Manager