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of <h1>RBI Fines Coimbatore District Central Co-operative Bank Rs. 5 Lakh for Violating KYC and AML Norms Under Banking Regulation Act 1949.</h1> The Reserve Bank of India has fined The Coimbatore District Central Co-operative Bank Ltd., Tamil Nadu, Rs. 5 lakh for breaching Know Your Customers (KYC) norms and Anti Money Laundering (AML) guidelines. This action was taken under the Banking Regulation Act, 1949, applicable to Co-operative Societies. The bank received a show cause notice and provided a written response. After reviewing the case details and the bank's submissions, the RBI determined that the violations were substantiated, justifying the penalty.
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