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RBI imposes monetary penalty on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Ltd, Gorakhpur
Quick answerThe Reserve Bank of India imposed a monetary penalty on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Ltd, Gorakhpur (announced Thu, 02 Jul 2026) for non-compliance with its directions. Read the official RBI press release for the exact amount and the specific provisions contravened.
What it means for bankers
RBI monetary penalties follow a statutory show-cause and inspection process and are compliance signals, not commentary on the bank's solvency or on its customers' deposits. They typically flag lapses in areas such as KYC/AML, exposure norms, IRAC/asset classification or deposit-account rules. Tracking the pattern of penalties across entities helps compliance teams benchmark their own controls.
Key dataSee the full RBI penalty tracker and related live dashboards: NPA / asset quality · Bank health scores.
Key termsPlain-English definitions: KYC / AML · Master Direction · GNPA — see the full Indian banking glossary.
Explore the rulesThe RBI rules behind penalties, simplified for bankers: KYC / AML, Co-operative Banks, Digital Payments / UPI.
Last reviewed by BankPulse Expert Review Panel
Source: official RBI press release, rbi.org.in. BankPulse does not reproduce RBI text verbatim. Reviewed by our expert review panel. Last updated 02 Jul 2026, 19:26 IST.