Srinagar: Jammu & Kashmir Bank has informed the stock exchanges that the Reserve Bank of India has imposed a ₹99.30 lakh penalty on the lender for multiple compliance lapses relating to customer grievance redressal, complaint escalation, DEA Fund procedures, and video-based KYC processes. The disclosure was made under Regulation 30 of SEBI’s Listing Obligations.
The penalty was levied by the RBI’s Adjudication Committee of Executive Directors, following an order dated 1 December 2025, and communicated to the bank on 5 December 2025.
According to the bank’s filing, the contraventions highlighted by the central bank include: Failure to escalate wholly or partially rejected complaints to the Internal Ombudsman,Failure to issue final resolution letters to customers, Delay in transferring amounts to the Depositor Education and Awareness (DEA) Fund, and
Non-compliance with RBI directions relating to Video Customer Identification Process (V-CIP).
J&K Bank confirmed that the penalty will need to be paid to the RBI but said the action has no additional operational impact beyond the financial outgo of ₹99.3 lakh.