* The Reserve Bank of India (RBI) has imposed a penalty of ₹99.30 lakh on The Jammu & Kashmir Bank Limited. * The penalty was levied by the Enforcement Department of RBI, as per the order dated December 1, 2025. * The action follows the bank's failure to adhere to regulatory guidelines, including: * Not escalating rejected complaints to the Internal Ombudsman (IO). * Not sending final redressal letters to customers. * Delays in crediting funds to the Depositor Education and Awareness (DEA) Fund. * Non-compliance with Reserve Bank directions regarding V-CIP procedures.
