On December 8, 2025, the Reserve Bank of India (RBI) announced a monetary penalty of ₹50,000 on The Assam Co-operative Apex Bank Limited, Guwahati, due to non-compliance with RBI directions on Know Your Customer (KYC). The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
A statutory inspection by NABARD as of March 31, 2025, revealed non-compliance with RBI directions. The bank failed to carry out periodic reviews of risk categorization of accounts at least once every six months. After considering the bank's response to a notice and oral submissions, RBI sustained the charge, warranting the penalty.
This action is based on deficiency in regulatory compliance and is without prejudice to any other action that may be initiated by RBI against the bank.
The press release number is 2025-2026/1659. Brij Raj, Chief General Manager, is the contact person. The RBI website is www.rbi.org.in, and the email is helpdoc@rbi.org.in. The phone number is 022 - 2266 0502. The office address is Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001.
Key Entities Referenced
Reserve Bank of India (RBI): Imposed the monetary penalty
The Assam Co-operative Apex Bank Limited: The bank on which the monetary penalty was imposed
Guwahati: Location of the bank
Banking Regulation Act, 1949: The act under which powers were conferred
Know Your Customer (KYC): RBI directions the bank failed to comply with
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 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
December 08, 2025
RBI imposes monetary penalty on The Assam Co-operative Apex Bank Limited,
Guwahati
The Reserve Bank of India (RBI) has, by an order dated December 1, 2025,
imposed a monetary penalty of ₹50,000 (Rupees Fifty Thousand only) on The Assam
Co-operative Apex Bank Limited, Guwahati (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 statutory inspection of the bank was conducted by the National Bank for
Agriculture and Rural Development (NABARD) with reference to its financial position
as on March 31, 2025. Based on supervisory findings of non-compliance with RBI
directions 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 directions. 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 carry out periodic review of risk categorization of accounts,
with such periodicity being at least once in six months.
This action is based on deficiency in regulatory 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: 2025-2026/1659 Chief General Manager