The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 50,000 on the Amravati District Central Co-operative Bank Ltd., Maharashtra, for non-compliance with regulatory directions relating to Know Your Customer (KYC) norms and bank charges for SMS alerts. According to RBI, the penalty was imposed through an order dated August 6, 2026, under provisions of the Banking Regulation Act, 1949. The bank had allotted multiple Customer Identification Codes to certain customers instead of maintaining a Unique Customer Identification Code (UCIC) for each customer. It had also charged certain customers for SMS alerts despite not sending the alerts. RBI clarified that the penalty relates to regulatory compliance deficiencies and does not invalidate transactions or agreements entered into by the bank.