RBI Imposes Rs5 Lakh Penalty on Rampur Jilla Sahkari Bank
Moneylife Digital Team 24 October 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs5 lakh on Uttar Pradesh-based Rampur Jilla Sahkari Bank Ltd for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act).
 
RBI statutory inspection of Rampur Jilla Sahkari Bank, which was conducted by National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on 31 March 2024, revealed that the lender had failed to transfer eligible unclaimed amounts to the depositor education and awareness fund (DEA Fund) within the prescribed time.
 
After considering the lender’s reply to the notice, the oral submissions made during the personal hearing, and the examination of additional submissions made by it, the RBI states that the charges against Rampur Jilla Sahkari Bank are sustained, warranting the imposition of a monetary penalty.
 
However, the banking regulator clarified that its action against Rampur Jilla Sahkari Bank is based on deficiencies in regulatory compliance and is not intended to pronounce on the validity of any transactions or agreements entered into by the Bank with its customers. Further, imposition of a monetary penalty is without prejudice to any other action that may be initiated against the Bank, RBI added.
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