On November 20, 2025, the Reserve Bank of India (RBI) announced a monetary penalty of ₹50,000/- on The Big Kancheepuram Co-operative Town Bank Limited, Tamil Nadu, for non-compliance with KYC directions. The penalty was imposed under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949. A statutory inspection of the bank was conducted with reference to its financial position as on March 31, 2024, which revealed the non-compliance. The bank failed to upload KYC records of customers onto Central KYC Records Registry (CKYCR) within the prescribed timeline. The action is based on deficiencies in regulatory compliance and is without prejudice to any other action that may be initiated by RBI against the bank. For further information, contact the Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001, phone: 022 - 2266 0502. Website: www.rbi.org.in, email: helpdoc@rbi.org.in. The Press Release number is 2025-2026/1536. Brij Raj, Chief General Manager. Order date was November 12, 2025.
Key Entities Referenced
Reserve Bank of India (RBI): The regulator imposing the monetary penalty and conducting the inspection.
The Big Kancheepuram Co-operative Town Bank Limited, Tamil Nadu: The bank on which the monetary penalty is imposed.
Banking Regulation Act, 1949: The Act under which RBI's powers are defined for imposing the penalty.
Know Your Customer (KYC): Directions issued by RBI regarding KYC compliance with which the bank was non-compliant.
Section 47A(1)(c): Section of the Banking Regulation Act related to penalties
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
November 20, 2025
RBI imposes monetary penalty on The Big Kancheepuram Co-operative Town
Bank Limited, Tamil Nadu
The Reserve Bank of India (RBI) has, by an order dated November 12, 2025,
imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Big
Kancheepuram Co-operative Town Bank Limited, Tamil Nadu (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 RBI with reference to its
financial position as on March 31, 2024. 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 upload the KYC records of customers onto Central KYC
Records Registry (CKYCR) within the prescribed timeline.
This action is based on deficiencies 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: 2025-2026/1536 Chief General Manager