The Reserve Bank of India (RBI) has, by an order dated December 1, 2025, imposed a monetary penalty of ₹50,000 (Rupees Fifty Thousand only) on The Assam Co-operative Apex Bank Limited, Guwahati (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 statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2025. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty:

The bank had failed to carry out periodic review of risk categorization of accounts, with such periodicity being at least once in six months.

(Brij Raj)           
Chief General Manager

Press Release: 2025-2026/1659