The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 63.60 lakh on the Central Bank of India as of March 27, 2026. The penalty stems from non-compliance related to specific directions concerning ‘Know Your Customer’ (KYC) norms and operational guidelines for ‘Basic Savings Bank Deposit Accounts’ (BSBDA). The bank stated the information is furnished under relevant disclosure requirements for listed entities.
Regulatory Action Confirmed
Central Bank of India has formally communicated an enforcement action taken by the Reserve Bank of India (RBI) on March 27, 2026. The regulatory body has levied a significant financial penalty against the Bank for specific instances of non-adherence to established banking guidelines.
Details of the Penalty Imposition
The total penalty amount assessed against the Bank is Rs. 63.60 lakh (Rupees Sixty Three Lakh Sixty Thousand only). This action was taken due to deficiencies observed in compliance with RBI directions pertaining to two critical areas:
- The ‘Know Your Customer’ (KYC) framework.
- Operational guidelines related to ‘Financial Inclusion – Access to Banking Services – Basic Savings Bank Deposit Account (BSBDA)’.
The RBI exercised powers conferred under the relevant provisions of the Banking Regulation Act, 1949, in imposing this penalty.
Disclosure Compliance
This material information is being disclosed to the stock exchanges as required under the prevailing Listing Obligations and Disclosure Requirements Regulations, 2015. The Bank confirmed that this disclosure covers all necessary details regarding the regulatory action taken against it.
Source: BSE
