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notificationRBIMonday, 13 July 2026

RBI imposes monetary penalty on The Nawada Central Co-operative Bank Limited, Bihar

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Official government notification — a formal executive order that operationalises policy decisions. Carries legal weight and specifies rules, dates, exemptions, or procedural requirements.
Summary
The Reserve Bank of India (RBI) has, by an order dated July 02, 2026, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Nawada Central Co-operative Bank Limited, Bihar (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 st
Key Facts
TypeNotification
SourceReserve Bank of India
PublishedMonday, 13 July 2026
Affected Population1.4 billion citizens, 63 million MSMEs
Key Numbers
GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg
Rs 15,000 crore for Digital India initiatives
Key Authorities
Ministry of FinanceRBISEBIDEAMinistry of Electronics & IT
Key Stakeholders
TaxpayersBanks & NBFCsInvestorsInternet UsersTech CompaniesStartups
Government Context
NDA IIIBJP-led NDA
Centre-Right
LeftCentreRight
Explore Sectors
Finance & Economy478 tracked→Digital & Technology1215 tracked→Energy377 tracked→
Read Full Text at Source
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