Question
How much penalty was imposed by RBI on Sikkim State
Co-operative Bank Ltd. in September 2025 for KYC non-compliance?ÂSolution
The Reserve Bank of India imposed a monetary penalty of ₹50,000 on Sikkim State Co-operative Bank Ltd. for not uploading customer KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline. The penalty was imposed under Section 47A(1)(c) of the Banking Regulation ActÂ
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