RBI slaps INR-6.36-mln penalty on Central Bank for breach of KYC norms
This story was originally published at 18:23 IST on 27 March 2026
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--RBI fines Central Bank of India INR 6.36 mln
NEW DELHI – The Reserve Bank of India has imposed a penalty of INR 6.36 million on Central Bank of India for breach of know your customer and deposit account norms, the central bank said in a press release Friday.
The bank had failed to upload KYC records of certain customers on to the central KYC records registry within the prescribed timeline, the RBI said. The bank also flouted norms by opening additional basic savings bank deposit accounts of certain existing account holders in the bank.
For the December quarter, Central Bank of India had reported net profit of INR 12.63 billion and total income of INR 109.69 billion. Friday, shares of the bank ended at INR 33 on the National Stock Exchange, down 3.3%. End
Reported by Shweta
Edited by Akul Nishant Akhoury
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