RBI fines Canara Bank INR 4.18 million for breach of KYC norms
This story was originally published at 18:19 IST on 5 June 2026
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--RBI fines Canara Bank INR 4.18 million for breach of KYC norms
NEW DELHI – The Reserve Bank of India has imposed a penalty of INR 4.18 million on Canara Bank for non-compliance with the know-your-customer guidelines, the central bank said in a release Friday.
Canara bank failed to upload know your customer records of certain customers onto Central KYC Records Registry within the prescribed timeline, the regulator said. The bank also classified certain accounts as inoperative, despite the last customer-induced transaction being less than a year old in such accounts, the RBI said.
For the March quarter, Canara Bank reported net profit of INR 45.05 billion on total income of INR 366.62 billion. Friday, shares of the bank closed 2% higher at INR 135.81 on the National Stock Exchange. End
Reported by Shweta
Edited by Deepshikha Bhardwaj
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