The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 50,000 on The Assam Co-operative Apex Bank Limited, Guwahati, for non-compliance with norms related to Know Your Customer (KYC) guidelines. The order was issued on December 1, 2025.
The penalty was levied under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
The violation was identified during a statutory inspection conducted by NABARD based on the bank’s financial position as of March 31, 2025. After reviewing submissions from the bank, RBI concluded that the bank failed to conduct periodic risk categorization reviews of customer accounts at least once every six months.
RBI clarified that the action pertains solely to compliance deficiencies and does not question the validity of any transactions or agreements. Further action, if required, may be initiated separately.