RBI penalizes Jammu & Kashmir Bank ₹99.30 lakh

Jammu and Kashmir Bank has been fined ₹99.30 lakh by the Reserve Bank of India (RBI) for regulatory lapses. The penalty stems from an order dated December 1, 2025, with the bank receiving communication on December 5, 2025.

The violations include failing to escalate rejected complaints to the internal ombudsman, not sending final redressal letters to customers, delaying credit to the Depositor Education and Awareness (DEA) Fund, and non-compliance with RBI directions regarding Video Customer Identification Process (V-CIP) procedures.