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Regulatory Actions Covered By This Website

REGULATORY ACTIONS IN CHRONOLOGICAL ORDER

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

ENTITY

S.
No.
DATE OF ORDER ENTITY PERSON COMPETENT AUTHORITY REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 24-JUL-2015
History of entity/person MUTHOOTTU MINI FINANCIERS PVT.LTD.   
  RBI  DID NOT ADHERE TO GUIDELINES ON LOAN TO VALUE (LTV) RATIO PERTAINING TO GOLD LOANS

DID NOT ADHERE TO GUIDELINE ON ISSUANCE AND RENEWAL OF NON-CONVERTIBLE DEBENTURES (NCDS) AND LOAN AGAINST NCDS

DID NOT ADHERE TO FAIR PRACTICES CODE (FPC) AND DISCLOSURES IN THE BALANCE SHEET ETC. 
IMPOSED PENALTY RS.5,00,000

24-JUL-2015
 
2 16-JUL-2015
History of entity/person GUJARAT MERCANTILE CO-OPERATIVE BANK LTD.   
  RBI  DID NOT REPORT CASH TRANSACTIONS REPORTS (CTR) TO FINANCIAL INTELLIGENCE UNIT-INDIA (FIU-IND)

DID NOT ADHERE TO GUIDELINES / INSTRUCTIONS ISSUED BY RBI BY ALLOWING CASH WITHDRAWAL OF RS.20.00 LACS AFTER BANKING HOURS WITHOUT APPROVAL OF BOARD OF DIRECTORS 
IMPOSED PENALTY RS.5,00,000

16-JUL-2015
 
3 15-JUL-2015
History of entity/person UNITED INDIA CO-OPERATIVE BANK LTD.   
  RBI  VIOLATED DIRECTIONS ISSUED BY RESERVE BANK OF INDIA  RESTRAINED FROM GRANTING OR RENEWING ANY LOAN /ADVANCES, MAKE INVESTMENT, INCUR LIABILITIES, BORROW, DEAL IN PROPERTIES ETC. WITHOUT APPROVAL OF RBI IN WRITING

15-JUL-2015
 
4 10-JUL-2015
History of entity/person JIJAMATA MAHILA SAHAKARI BANK LTD.   
  RBI  VIOLATED DIRECTIONS ISSUED BY RESERVE BANK OF INDIA  RESTRAINED FROM GRANTING OR RENEWING ANY LOAN /ADVANCES, MAKE INVESTMENT, INCUR LIABILITIES, BORROW, DEAL IN PROPERTIES ETC. WITHOUT APPROVAL OF RBI IN WRITING

10-JUL-2015
 
5 07-JUL-2015
History of entity/person BRAHMAWART COMMERCIAL CO-OPERATIVE BANK LTD.   
  RBI  VIOLATED DIRECTIONS ISSUED BY RESERVE BANK OF INDIA  RESTRAINED FROM GRANTING OR RENEWING ANY LOAN /ADVANCES, MAKE INVESTMENT, INCUR LIABILITIES, BORROW, DEAL IN PROPERTIES ETC. WITHOUT APPROVAL OF RBI IN WRITING

07-JUL-2015
 
6 03-JUL-2015
History of entity/person BANASKANTHA MERCANTILE CO-OPERATIVE BANK LTD.,THE   
  RBI  DID NOT COMPLY WITH “KNOW YOUR CUSTOMER” NORMS IN OPENING AND/OR OPERATING THE ACCOUNTS

DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) GUIDELINES 
IMPOSED PENALTY RS.5,00,000

03-JUL-2015
 
7 01-JUL-2015
History of entity/person SHRI SAI URBAN CO-OPERATIVE BANK LTD.   
  RBI  VIOLATED DIRECTIONS ISSUED BY RESERVE BANK OF INDIA  RESTRAINED FROM GRANTING OR RENEWING ANY LOAN /ADVANCES, MAKE INVESTMENT, INCUR LIABILITIES, BORROW, DEAL IN PROPERTIES ETC. WITHOUT APPROVAL OF RBI IN WRITING

01-JUL-2015
 
8 26-JUN-2015
History of entity/person R.S.CO-OPERATIVE BANK LTD.,THE   
  RBI  VIOLATED DIRECTIONS ISSUED BY RESERVE BANK OF INDIA  RESTRAINED FROM GRANTING OR RENEWING ANY LOAN /ADVANCES, MAKE INVESTMENT, INCUR LIABILITIES, BORROW, DEAL IN PROPERTIES ETC. WITHOUT APPROVAL OF RBI IN WRITING

26-JUN-2015
 
9 26-JUN-2015
History of entity/person VITTHAL NAGARI SAHAKARI BANK LTD.   
  RBI  DID NOT COMPLY WITH REQUIREMENTS OF MINIMUM CAPITAL AND RESERVES

DID NOT HAVE ADEQUATE ASSETS TO MEET ITS OUTSIDE LIABILITIES 
CANCELLATION OF BANKING LICENSE

DIRECTED REGISTRAR OF CO-OPERATIVE SOCIETIES TO ISSUE ORDER FOR WINDING UP OF BANK AND APPOINT LIQUIDATOR

26-JUN-2015
 
10 22-JUN-2015
History of entity/person HUBLI URBAN CO-OPERATIVE BANK LTD.,THE   
  RBI  VIOLATED INSTRUCTIONS FOR IRREGULARITIES IN CHEQUE DISCOUNTING AND OVERDRAWAL IN OD LOAN ACCOUNTS ETC  IMPOSED PENALTY RS.20,00,000

22-JUN-2015
 
11 17-JUN-2015
History of entity/person JUNAGADH COMMERCIAL CO-OPERATIVE BANK LTD.,THE   
  RBI  DID NOT COMPLY WITH “KNOW YOUR CUSTOMER” NORMS IN OPENING AND/OR OPERATING THE ACCOUNTS

DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) GUIDELINES

DID NOT ADHERE TO DIRECTIVES/GUIDELINES ON COMBATING OF FINANCING OF TERRORISM (CFT) / OBLIGATIONS OF BANKS UNDER PREVENTION OF MONEY LAUNDERING ACT (PMLA), 2002 
IMPOSED PENALTY RS.5,00,000

17-JUN-2015
 
12 16-JUN-2015
History of entity/person SUTEX CO-OPERATIVE BANK LTD.,THE   
  RBI  DID NOT COMPLY WITH “KNOW YOUR CUSTOMER” NORMS IN OPENING AND/OR OPERATING THE ACCOUNTS

DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) GUIDELINES 
IMPOSED PENALTY RS.2,00,000

16-JUN-2015
 
13 11-JUN-2015
History of entity/person KUTCH MERCANTILE CO-OPERATIVE BANK LTD.   
  RBI  DID NOT COMPLY WITH INSPECTION REPORT OF RBI

DID NOT PUBLISH ANNUAL ACCOUNTS FOR POSITION

DID NOT COMPLETE RISK CATEGORIZATION AS WELL AS UNIQUE CUSTOMER INDENTIFICATION CODE (UCIC) OF ITS CUSTOMERS

DID NOT COMPLY WITH VARIOUS DIRECTIONS ISSUED BY RBI RELATING TO ISSUING OF DEMAND DRAFT / PAY ORDER 
IMPOSED PENALTY RS.5,00,000

11-JUN-2015
 
14 11-JUN-2015
History of entity/person PIJ PEOPLE'S CO-OPERATIVE BANK LTD.,THE   
  RBI  DID NOT COMPLY WITH GUIDELINED OF RISK CATEGORIZATION OF ACCOUNTS

DID NOT REPORT CASH TRANSACTIONS REPORTS (CTR) TO FINANCIAL INTELLIGENCE UNIT-INDIA (FIU-IND) 
IMPOSED PENALTY RS.1,00,000

11-JUN-2015
 
15 09-JUN-2015
History of entity/person INTEGRAL URBAN CO-OPERATIVE BANK LTD.   
  RBI  DID NOT COMPLY WITH “KNOW YOUR CUSTOMER” NORMS IN OPENING AND/OR OPERATING THE ACCOUNTS

DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) GUIDELINES

DID NOT MONITOR CASH TRANSACTIONS

DID NOT COMPLY WITH GUIDELINES OF FACILITY FOR GENERATING ALERT REPORT FOR CASH TRANSACTION REPORT (CTR) / SUSPICIOUS TRANSACTION REPORT (STR)

DID NOT ADHERE TO DIRECTIVES OF RISK CATEGORIZATION AND FIXATION OF THRESHOLD LIMITS

DID NOT REPORT CASH TRANSACTIONS REPORTS (CTR) TO FINANCIAL INTELLIGENCE UNIT-INDIA (FIU-IND) INCLUDING DIRECTOR RELATED ACCOUNTS 
IMPOSED PENALTY RS.20,00,000

09-JUN-2015
 
16 02-JUN-2015
History of entity/person SHREE MAHALAXMI MERCANTILE CO-OPERATIVE BANK LTD.   
  RBI  DID NOT ADHERE TO DIRECTIONS ISSUED BY RBI IN RELATION TO PROHIBITING LOANS AND ADVANCES TO DIRECTORS AND THEIR RELATIVES AND THE FIRMS/COMPANIES/CONCERNS IN WHICH THEY ARE INTERESTED

DID NOT ADHERE TO INSTRUCTIONS/DIRECTIONS OF RESERVE BANK OF INDIA RELATING TO OPERATIONAL INSTRUCTIONS 
IMPOSED PENALTY RS.5,00,000

02-JUN-2015
 
17 11-MAY-2015
History of entity/person SRI GANESH CO-OPERATIVE BANK LTD.   
  RBI  DID NOT COMPLY WITH “KNOW YOUR CUSTOMER” NORMS IN OPENING AND/OR OPERATING THE ACCOUNTS

DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) GUIDELINES

OPENED BENAMI ACCOUNTS AND ALLOWED HUGE DEPOSITS IN SUCH ACCOUNTS 
IMPOSED PENALTY RS.15,00,000

11-MAY-2015
 
18 30-APR-2015
History of entity/person SHRI SWAMI SAMARTH URBAN CO-OP.BANK LTD.   
  RBI  CEASED TO BE SOLVENT  CANCELLATION OF BANKING LICENSE

DIRECTED REGISTRAR OF CO-OPERATIVE SOCIETIES TO ISSUE ORDER FOR WINDING UP OF BANK AND APPOINT LIQUIDATOR

30-APR-2015
 
19 29-APR-2015
History of entity/person BANK OF MAHARASHTRA   
  RBI  DID NOT COMPLY WITH “KNOW YOUR CUSTOMER” NORMS IN OPENING AND/OR OPERATING THE ACCOUNTS

DID NOT ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER ACCOUNTS

DID NOT ADHERE TO INSTRUCTIONS ON FUNDS RECEIVED THROUGH REAL TIME GROSS SETTLEMENT SYSTEM (RTGS)

DID NOT DO DUE DILIGENCE IN OPENING OF FIXED DEPOSIT ACCOUNTS AND GRANTING OF OVERDRAFTS

WEAKNESSES IN INTERNAL CONTROL SYSTEMS, MANAGEMENT OVERSIGHT AND USED INTERNAL ACCOUNTS FOR PARKING CUSTOMER FUNDS ETC.

MIDDLEMEN / INTERMEDIARIES WERE INVOLED IN OPENING OF ACCOUNTS AND ALSO SUBSEQUENT OPERATIONS IN THOSE ACCOUNTS 
IMPOSED PENALTY RS.1,50,00,000

29-APR-2015
 
20 29-APR-2015
History of entity/person DENA BANK   
  RBI  DID NOT COMPLY WITH “KNOW YOUR CUSTOMER” NORMS IN OPENING AND/OR OPERATING THE ACCOUNTS

DID NOT ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER ACCOUNTS

DID NOT ADHERE TO INSTRUCTIONS ON FUNDS RECEIVED THROUGH REAL TIME GROSS SETTLEMENT SYSTEM (RTGS)

DID NOT DO DUE DILIGENCE IN OPENING OF FIXED DEPOSIT ACCOUNTS AND GRANTING OF OVERDRAFTS

WEAKNESSES IN INTERNAL CONTROL SYSTEMS, MANAGEMENT OVERSIGHT AND USED INTERNAL ACCOUNTS FOR PARKING CUSTOMER FUNDS ETC.

MIDDLEMEN / INTERMEDIARIES WERE INVOLED IN OPENING OF ACCOUNTS AND ALSO SUBSEQUENT OPERATIONS IN THOSE ACCOUNTS 
IMPOSED PENALTY RS.1,50,00,000

29-APR-2015
 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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