Reserve Bank of India (RBI) imposes ₹41.80 lakh penalty on Canara Bank

Exam-focused facts from the 10 June 2026 current affairs briefing.

Key facts

The Reserve Bank of India (RBI) imposed a monetary penalty of ₹41.80 lakh on Canara Bank.
The penalty was levied for non-compliance with directions regarding Know Your Customer (KYC) and Unclaimed Deposits and Inoperative Accounts in banks.
The RBI found that Canara Bank failed to upload KYC records of certain customers onto the Central KYC Records Registry (CKYCR) within the prescribed timeline.
The bank incorrectly classified certain accounts as inoperative despite the last customer-induced transaction being less than one year old.
The penalty was imposed under section 47A(1)(c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.