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RESERVE BANK OF INDIA

RESERVE BANK OF INDIA

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	PERIOD COVERED
	FROM	TO/UPTIL
Asset Reconstruction Co.	01/08/1996	21/11/2024
Actions by RBI
Cancelled certificate of registration
Reasons for Action
Surrendered certificate of registration
Company/person	01/08/1996	21/11/2024
Actions by RBI
Designated as terrorists
Reasons for Action
Involved in terrorism under unlawful activities (prevention) act, 1967
Co-operative Banks	01/08/1996	21/11/2024
Actions by RBI
Cancelled banking license
Cautioned public that RBI has not granted permission to carry out banking activities
Directed not to be entered into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets
Directed not to disburse or agreed to disburse any payment whether in discharge of its liabilities and obligations or otherwise
Directed registrar of co-operative societies to issue order for winding up of bank and appoint liquidator
Entered into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in RBI directions dated 28/08/2014
Imposed penalty
Issued stay order to stop all transactions
Placed under directions
Placed under directions & inspection ordered
Prohibited from accepting deposits
Prohibited from carrying on 'banking business' including acceptance and repayment of deposit
Prohibited from conducting banking business in under section 5(B) of the banking regulation act, 1949
Prohibited from disbursing any payments (except to small depositors)
Prohibited from granting/renewing any loans/advances
Prohibited from incurring any liability including borrowal of funds/fresh deposits
Prohibited from making any investment
Prohibited from repaying deposits
Prohibited from selling/transferring any properties/assets
Rejection of application for banking license
Restrained from granting or renewing any loan /advances, make any investment, incur any liabilities including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets
Restrained from granting or renewing any loan /advances, make investment, incur liabilities, borrow, deal in properties etc. without approval of RBI in writing
Superseded board of directors
Winding up of bank
Reasons for Action
Accepted interest-free deposits accounts other than current account
Allotted multiple customer identification codes to same customers
Allowed intra-day overdrawals in several accounts
Allowed limits beyond exposure ceiling
Allowed operations and did not close several accounts open using otp based e-kyc in non-face-to-face mode, even after expiry of one year without conducting customer due diligence procedure
Allowed premature withdrawal of fixed deposits despite directives/instructions/guidelines imposed by RBI u/s 36 (1) of the banking regulations act, 1949
Allowed refund of share capital to its members, despite its last assessed crar (capital to risk (weighted) assets ratio) being below 9%
Allowed remission of debt in various borrowal accounts
Allowed withdrawal from depositors more than prescribed limit
Appointed a member on its board of management, who did not satisfy fit & proper criteria and did not reconstitute board of management within specified time despite specific direction issued by RBI
Bought insurance policy for its employees from one of its directors who was also agent of insurance company
Breached individual housing loan limit
Breached limit of its investments included under htm category
Breached limit on loans for repair for house
Breached limit on unsecured advances and unsecured overdraft facilities
Ceased to be solvent
Collected charges for activation of inoperative accounts
Collected fix penalty for shortfall in maintenance of minimum balance in saving bank accounts instead of proportionate to the extent of shortfall
Collected fix penalty for shortfall in maintenance of minimum balance in saving bank accounts without giving one month notice to customers regarding minimum balance requirement
Conducted operations in a manner detrimental to the interest of present and future depositors and of public violating sections 22(3) (a) to 22(3)(E) and 24 of banking regulation act, 1949
Conducted operations in a manner detrimental to the interest of present and future depositors violating section 11 and 22 (3) of banking regulation act, 1949
Created floating charges on standard assets without prior approval of RBI
Declared dividend without obtaining prior permission from RBI
Default in maintenance of statutory liquidity ratio (slr)
Defaulted in maintenance of Cash Reserve Ratio
Deficiencies in regulatory compliance
Delay in reporting cyber security incident
Delay in reporting of credit information pertaining to certain eligible loan accounts to crilc reporting platform of RBI
Delay in reporting of frauds to RBI and/or nabard
Delay in submission of statutory/off-site surveillance system (oss) returns to RBI and/or nabard within prescribed timelines
Delay in transfer of eligible funds to depositor education & awareness fund
Delayed compliance of deficiencies as per RBI inspection
Delayed filing of first information report (fir)
Delayed submission of compliance to inspection report of RBI
Did not adhere to �know your customer� directives/instructions/guidelines in opening and/or operating the accounts
Did not adhere to anti money laundering (aml) directives/instructions/guidelines
Did not adhere to certain directives/instructions/guidelines issued by RBI contained in reserve bank of india (interest rate on deposits) directives/instructions/guidelines, 2016
Did not adhere to certain directives/instructions/guidelines issued by RBI under supervisory action framewark
Did not adhere to clean note policy
Did not adhere to deaf scheme
Did not adhere to direction issued by RBI on transfer to reserve funds violating section 17(1) and 11(2)(B)(II) of banking regulation act, 1949
Did not adhere to direction issued by RBI violating section 27 read with section 56 of banking regulation act, 1949
Did not adhere to directives on risk categorization and fixation of threshold limits
Did not adhere to directives pertaining to collection of third party account payee cheques
Did not adhere to directives/instructions/guidelines for gold loan with bullet repayment option
Did not adhere to directives/instructions/guidelines issued by RBI on atm-cum-debit cards to certain cash credit accounts holders
Did not adhere to directives/instructions/guidelines issued by RBI on board of directors of urban co-operative banks (ucbs)
Did not adhere to directives/instructions/guidelines issued by RBI on board of directors of urban co-operative banks (ucbs) in relation to director related loans
Did not adhere to directives/instructions/guidelines issued by RBI on frauds monitoring and reporting mechanism
Did not adhere to directives/instructions/guidelines issued by RBI on interest rate on deposits
Did not adhere to directives/instructions/guidelines issued by RBI on lending for purchase of land for construction of commercial property
Did not adhere to directives/instructions/guidelines issued by RBI on placement of deposits with other banks by primary (urban) co-operative banks (ucbs)
Did not adhere to directives/instructions/guidelines issued by RBI on urban co-operative banks (ucbs)
Did not adhere to directives/instructions/guidelines issued by RBI to grant of loans against security of gold jewellery
Did not adhere to directives/instructions/guidelines issued by RBI/nabard on frauds monitoring and reporting mechanism within prescribed timeline
Did not adhere to directives/instructions/guidelines of facility for generating alert report for cash transaction report (ctr)/suspicious transaction report (str)
Did not adhere to directives/instructions/guidelines of RBI by allowing cash withdrawal of Rs.20 lakh after banking hours without approval of board of directors
Did not adhere to directives/instructions/guidelines of RBI in relation to income recognition, asset classification and provisioning directives/instructions/guidelines
Did not adhere to directives/instructions/guidelines of RBI in relation to income recognition, asset classification and provisioning recognition of loan impairment by state/central co-operative banks
Did not adhere to directives/instructions/guidelines of RBI on �reserve bank of india (fraud classification and reporting by commercial banks and select fis) directives/instructions/guidelines, 2016�
Did not adhere to directives/instructions/guidelines of RBI on acquisition of non-banking asset
Did not adhere to directives/instructions/guidelines of RBI on audit committee of board
Did not adhere to directives/instructions/guidelines of RBI on bank finance against shares and debentures of ucbs
Did not adhere to directives/instructions/guidelines of RBI on bank�s total exposure to housing finance
Did not adhere to directives/instructions/guidelines of RBI on basic cyber security framework and/or comprehensive cyber security framework for primary (urban) co-operative banks
Did not adhere to directives/instructions/guidelines of RBI on breach of prescribed individual borrower exposure limit
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic review of risk categorisation of customers and/or accounts
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic updation of �know your clients� of customers as per risk
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic updation of �know your clients� of customers as per risk categorisation
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic updation of kyc (know your clients) of certain customers within prescribed periodicity
Did not adhere to directives/instructions/guidelines of RBI on ceiling on inter-bank deposits
Did not adhere to directives/instructions/guidelines of RBI on classification and reporting of frauds
Did not adhere to directives/instructions/guidelines of RBI on classification of investments into htm/afs/hft categories
Did not adhere to directives/instructions/guidelines of RBI on creation of floating charges on assets without prior permission of RBI
Did not adhere to directives/instructions/guidelines of RBI on credit exposure directives/instructions/guidelines on loans & advances
Did not adhere to directives/instructions/guidelines of RBI on credit information companies (regulation) act, 2005
Did not adhere to directives/instructions/guidelines of RBI on customer protection�limiting liability of customers in unauthorised electronic banking transactions
Did not adhere to directives/instructions/guidelines of RBI on declaration and payment of dividend
Did not adhere to directives/instructions/guidelines of RBI on declaration of dividend
Did not adhere to directives/instructions/guidelines of RBI on delay in submission of compliance
Did not adhere to directives/instructions/guidelines of RBI on delayed/non-submission of compliance to various irregularities
Did not adhere to directives/instructions/guidelines of RBI on depositor education and awareness fund scheme, 2014
Did not adhere to directives/instructions/guidelines of RBI on disclosure of monetary penalty in public domain
Did not adhere to directives/instructions/guidelines of RBI on discounting/rediscounting of bills
Did not adhere to directives/instructions/guidelines of RBI on disposal of non-banking assets
Did not adhere to directives/instructions/guidelines of RBI on donations to trusts and institutions where directors and relatives hold position or interested
Did not adhere to directives/instructions/guidelines of RBI on donations/contributions for public/charitable purposes out of profit of urban co-operative banks
Did not adhere to directives/instructions/guidelines of RBI on exchange/acceptance of specified bank notes (sbns)
Did not adhere to directives/instructions/guidelines of RBI on exposure directives/instructions/guidelines
Did not adhere to directives/instructions/guidelines of RBI on exposure directives/instructions/guidelines and statutory/other restrictions
Did not adhere to directives/instructions/guidelines of RBI on extension of fresh loans and advances carrying risk weights of 100% and above
Did not adhere to directives/instructions/guidelines of RBI on finance against properties situated in unauthorized colonies
Did not adhere to directives/instructions/guidelines of RBI on finance for housing schemes (ucbs)
Did not adhere to directives/instructions/guidelines of RBI on giving donation exceeding prescribed limit
Did not adhere to directives/instructions/guidelines of RBI on grant of unsecured loan and allowed frequent od in cc account beyond prescribed limit
Did not adhere to directives/instructions/guidelines of RBI on granting loans for real estate purposes
Did not adhere to directives/instructions/guidelines of RBI on group borrower limits
Did not adhere to directives/instructions/guidelines of RBI on housing finance
Did not adhere to directives/instructions/guidelines of RBI on housing, real estate & commercial real estate sector
Did not adhere to directives/instructions/guidelines of RBI on income recognition and asset classification (irac) norms and frauds
Did not adhere to directives/instructions/guidelines of RBI on individual shareholding ceiling of 5% of paid-up capital
Did not adhere to directives/instructions/guidelines of RBI on individual unsecured advances exposure limit, group borrower limit and submission of compliance to RBI
Did not adhere to directives/instructions/guidelines of RBI on individual unsecured exposure limit of Rs.2 lakh and non-remission of funds to depositor education and awareness fund
Did not adhere to directives/instructions/guidelines of RBI on inspection & audit system in ucbs
Did not adhere to directives/instructions/guidelines of RBI on inspection & other related matters
Did not adhere to directives/instructions/guidelines of RBI on inspection compliance
Did not adhere to directives/instructions/guidelines of RBI on installation of automated teller machine (atm)
Did not adhere to directives/instructions/guidelines of RBI on inter-bank (gross) exposure limits
Did not adhere to directives/instructions/guidelines of RBI on inter-bank (gross) exposure limit, inter-bank counter party limit and unsecured advances limit
Did not adhere to directives/instructions/guidelines of RBI on investment and prudential limit on non-slr investment
Did not adhere to directives/instructions/guidelines of RBI on lending to nominal members
Did not adhere to directives/instructions/guidelines of RBI on levy of penal charges on non-maintenance of minimum balances in savings bank accounts
Did not adhere to directives/instructions/guidelines of RBI on limiting quantum of housing loan that can be granted to individual borrower by a district central co-operative bank
Did not adhere to directives/instructions/guidelines of RBI on linking of share capital to borrowings
Did not adhere to directives/instructions/guidelines of RBI on loans & advances to directors etc as surety/guarantors classification of ucbs
Did not adhere to directives/instructions/guidelines of RBI on loans and/or advances to directors and their relatives
Did not adhere to directives/instructions/guidelines of RBI on maintenance of deposit accounts
Did not adhere to directives/instructions/guidelines of RBI on making donation despite accumulated loss during previous year
Did not adhere to directives/instructions/guidelines of RBI on management of advances
Did not adhere to directives/instructions/guidelines of RBI on maximum limits on unsecured advances/loans
Did not adhere to directives/instructions/guidelines of RBI on members holding paid up share capital limit in excess of stipulated limit
Did not adhere to directives/instructions/guidelines of RBI on offering of interest on deposits for various tenors at rates higher than reference rates
Did not adhere to directives/instructions/guidelines of RBI on opening of new branch
Did not adhere to directives/instructions/guidelines of RBI on opening of savings bank accounts
Did not adhere to directives/instructions/guidelines of RBI on operational matters
Did not adhere to directives/instructions/guidelines of RBI on operations, branch authorisation policy, opening/up-gradation of extension counters, atms and shifting/splitting/closure of offices
Did not adhere to directives/instructions/guidelines of RBI on outstanding unsecured exposure limit of 10%
Did not adhere to directives/instructions/guidelines of RBI on payment of interest on balance amounts lying in current accounts of deceased individual depositors/sole proprietorship concerns while making payments to claimants
Did not adhere to directives/instructions/guidelines of RBI on payment of interests on term deposits, single and group borrower exposure limits and grant of unsecured advances
Did not adhere to directives/instructions/guidelines of RBI on period of preservation of records rules, 1985
Did not adhere to directives/instructions/guidelines of RBI on policy & practices regarding nominal membership
Did not adhere to directives/instructions/guidelines of RBI on prescribed exposure limits towards real estate, commercial real estate & housing loans
Did not adhere to directives/instructions/guidelines of RBI on professional director
Did not adhere to directives/instructions/guidelines of RBI on prohibiting acceptance of fresh deposits
Did not adhere to directives/instructions/guidelines of RBI on prohibiting loans & advances to directors & their relatives and firms/companies/concerns in which they are interested
Did not adhere to directives/instructions/guidelines of RBI on prudential accounting directives/instructions/guidelines related to provisioning against non-performing investments
Did not adhere to directives/instructions/guidelines of RBI on prudential inter-bank (gross) exposure limits and/or inter-bank counter party exposure limits
Did not adhere to directives/instructions/guidelines of RBI on prudential inter-bank counter party limit with multiple banks
Did not adhere to directives/instructions/guidelines of RBI on prudential inter-bank single & gross exposure limit
Did not adhere to directives/instructions/guidelines of RBI on renewing credit facilities of two groups of borrowers in excess of prescribed prudential exposure limit
Did not adhere to directives/instructions/guidelines of RBI on restriction on holding shares in other co-operative societies u/s 19 of the ibid act
Did not adhere to directives/instructions/guidelines of RBI on risk categorization/risk profiling of the customers and updation of the old accounts
Did not adhere to directives/instructions/guidelines of RBI on robust software to throw alerts as part of effective identification of accounts and reporting of suspicious transactions
Did not adhere to directives/instructions/guidelines of RBI on shifting of its branch without obtaining prior approval of RBI
Did not adhere to directives/instructions/guidelines of RBI on single borrower exposure limit and/or unsecured individual borrower limit
Did not adhere to directives/instructions/guidelines of RBI on submission of compliance report
Did not adhere to directives/instructions/guidelines of RBI on submission of documentary proof for transfer of funds to depositor education & awareness fund (deaf)
Did not adhere to directives/instructions/guidelines of RBI on submission of proper compliance of RBI inspection report 2013 and sustenance thereof
Did not adhere to directives/instructions/guidelines of RBI on supervisory under section 36(1) of banking regulation act, 1949
Did not adhere to directives/instructions/guidelines of RBI on transfer of balances lying in certain accounts remaining unclaimed for more than ten years
Did not adhere to directives/instructions/guidelines of RBI on transfer of eligible funds to depositor education and awareness fund
Did not adhere to directives/instructions/guidelines of RBI on transfer of eligible funds to depositor education and awareness fund within prescribed period
Did not adhere to directives/instructions/guidelines of RBI on transfer of eligible unclaimed deposits to depositor education & awareness fund within due date
Did not adhere to directives/instructions/guidelines of RBI on unsecured personal loans
Did not adhere to directives/instructions/guidelines of RBI on vehicle loans/staff loans
Did not adhere to directives/instructions/guidelines of RBI on video based customer identification process (v-cip) infrastructure to prevent connections from ip addresses outside india
Did not adhere to directives/instructions/guidelines of RBI pertaining to customer identification to allow transactions in accounts without confirming local address of constituents
Did not adhere to directives/instructions/guidelines of RBI pertaining to loans beyond ceiling of Rs.1 lakh to nominal members
Did not adhere to directives/instructions/guidelines of RBI pertaining to sanction/renewal of loans & advances
Did not adhere to directives/instructions/guidelines of RBI to carry out concurrent audit of investment portfolio
Did not adhere to directives/instructions/guidelines of RBI u/s 36 (1) of the banking regulations act, 1949
Did not adhere to directives/instructions/guidelines of RBI under section 25(1) (iii) read with section 23 (4) of credit information companies (regulation) act, 2005
Did not adhere to directives/instructions/guidelines of RBI under section 35A of the banking regulation act, 1949
Did not adhere to directives/instructions/guidelines of RBI under sections 23 and 35A read with section 56 of the banking regulation act, 1949
Did not adhere to directives/instructions/guidelines of risk categorization of accounts
Did not adhere to directives/instructions/guidelines on classify certain loans and/or credit facilities as non-performing assets in accordance with irac norms
Did not adhere to directives/instructions/guidelines on combating of financing of terrorism (cft)/obligations of banks under prevention of money laundering act (pmla), 2002
Did not adhere to directives/instructions/guidelines on compliance in time
Did not adhere to directives/instructions/guidelines on granting of donations
Did not adhere to directives/instructions/guidelines on prudential directives/instructions/guidelines
Did not adhere to directives/instructions/guidelines on share linking directives/instructions/guidelines
Did not adhere to directives/instructions/guidelines on specifying the extent and conditions subject to which co-operative banks permitted to hold shares in any other co-operative society
Did not adhere to inspection report of RBI
Did not adhere to instructions of RBI in respect of declaration/disbursal of dividend to shareholders
Did not adhere to instructions of RBI on supervisory action framework (saf)
Did not adhere to instructions of RBI relating to temporary overdraft
Did not adhere to instructions of RBI to make overseas investments without obtaining no objection certificate from bank
Did not adhere to instructions of RBI to seek prior permission of the bank before approaching roc for change of name
Did not adhere to instructions to file strs
Did not adhere to provisions of circular on cash transactions
Did not adhere to provisions of RBI act, 1949
Did not adhere to provisions of sections 11(1), 22(3)(A) and 22(3)(B) of the banking regulation act, 1949 (as applicable to co-operative societies)
Did not adhere to provisions of sections 11(1), 22(3)(A) to 22(3)(E) read with section 56 of the banking regulation act, 1949
Did not adhere to provisions of sections 6(1)(G) and 6(1)(K) read with section 56 of banking regulation act, 1949
Did not adhere to provisions relating to granting loans against property owned by directors
Did not adhere to provisions under sections 11(1) and 18 of banking regulation act, 1949
Did not adhere to provisions under sections 11(1) read with section 56 of banking regulation act, 1949
Did not adhere to RBI circulars dated 29/04/2003 and 24/06/2003
Did not adhere to RBI directives/instructions/guidelines on credit information companies rules, 2006
Did not adhere to RBI directives/instructions/guidelines on maximum limit on advances to trusts managing colleges in excess of single borrowing norm
Did not adhere to RBI directives/instructions/guidelines on membership of credit information companies (cics)
Did not adhere to RBI regulations
Did not adhere to regulatory directives/instructions/guidelines issued by nabard contained in review of frauds-directives/instructions/guidelines on monitoring and reporting system
Did not adhere to relaxed licensing conditions set by RBI in consultation with nabard
Did not adhere to requirements in relation to identification and reporting of suspicious transactions
Did not adhere to requirements of minimum capital and reserves
Did not adhere to section 35(2) of banking regulation act, 1949
Did not adhere to the ceiling as prescribed by RBI on donation
Did not adhere to the directives/instructions/guidelines of RBI on monitoring of end use of funds
Did not adhere to the do�s and don�ts prescribed for board of directors
Did not adhere to unique customer identification code (ucic) related directives/instructions/guidelines
Did not adhere to various directives/instructions/guidelines of RBI relating to issuance of demand draft/pay order
Did not adhere to various regulations of RBI in assessment of non-performing assets (npas)
Did not allocate unique customer identification code (ucic)
Did not carry out audit of investment portfolio and depositor education & awareness fund
Did not carry out periodical review of risk categorization
Did not categorize customers as low, medium or high risk category
Did not classify accounts as inoperative/dormant where no customer induced transaction occurred for two years
Did not classify certain loan accounts as non-performing asset in terms of income recognition, asset classification and provisioning norms
Did not classify certain loan accounts as non-performing assets (npas) resulting into divergence in asset classification of loan ACCOUNTS
Did not complete risk categorization and unique customer identification code (ucic) of its customers
Did not conduct annual review of inoperative and/or dormant accounts
Did not conduct concurrent auditing of investment portfolio
Did not conduct migration audit
Did not conduct vulnerability assessment and penetration testing of its internet facing mobile application as per prescribed periodicity
Did not constitute board of management within extended timeline granted by RBI
Did not credit (shadow reversal) amounts involved in certain unauthorized electronic transactions into accounts of customers within ten working days from the dates of notification by the customers
Did not credit interest to inoperative saving bank accounts
Did not deposit prescribed amount to mse refinance fund maintain with sidbi against shortfall in achievement of psl target for fy 2022-23 within prescribed time even after issuance of cautionary letter
Did not display its name properly in its stationery and advertisements
Did not dispose of immovable property, which was not being used for own purposes within maximum period stipulated under banking regulation act, 1949
Did not dispose off non-banking asset within statutory timeline from the date of its acquisition
Did not do risk categorisation of its customers
Did not enable customers to instantly respond by �reply� to sms and e-mail alert sent by the bank
Did not file first information report
Did not file suspicious transaction report (str)
Did not follow customer due diligence (cdd) procedure while establishing account-based relationship in certain accounts
Did not furnish any credit information to even credit information company (cic) of which it was a member
Did not furnish correct information to inspecting officer of RBI
Did not have adequate assets to meet its outside liabilities
Did not have adequate capital structure & earning prospects and not in a position to pay its present and/or future depositors in full
Did not have system for effective identification & reporting of suspicious transactions to fiu-ind
Did not identify non-performing assets (npa) on on-going basis
Did not implement core banking solution
Did not implement device binding control measure related to �sms delivery receipt check�
Did not implement risk categorisation of customers
Did not implement system of risk-based approach for undertaking periodic updation of �know your customer� (kyc)
Did not intend to pronounce upon validity of any transaction or agreement entered into by bank with its customers
Did not introduce concurrent audit system
Did not maintain adequate balance with clearing house
Did not maintain minimum 25% of net demand and time liabilities (ndtl) in government & other approved securities
Did not maintain records of cash transactions for value of more than Rs.10 lakh
Did not make disclosure of bank guarantee issued and violated directives issued by RBI on guarantees, co-acceptance and letter of credit
Did not make disclosure of penalty imposed by RBI in �notes to accounts� to balance sheet in its annual report
Did not make disclosure of penalty levied in its balance sheet
Did not make minimum mandatory transfer equivalent to 25% of its disclosed profit for the year 2020-21 to its reserve fund
Did not monitor cash transactions
Did not notify customer for non-maintenance of minimum balance and levied penal charges at flat rate for shortfall in maintenance of average minimum balance in savings accounts
Did not obtain membership of credit information companies (cics)
Did not obtain membership of three out of four credit information companies (cics)
Did not obtain RBI approval for computation of its prudential exposure limit
Did not pay any interest on deposits accepted under daily deposit scheme and prematurely withdrawn within twenty four months of opening of accounts
Did not pay eligible interest at the time of repayment on matured unpaid term deposits for the period they remained unclaimed with bank
Did not pay eligible interest at the time of repayment on term deposits maturing on sunday/holiday/non-business working day and paid on succeeding working days
Did not pay interest on balances lying in current account standing in name of deceased individual depositors or sole proprietorship concerns
Did not pay interest on deposits withdrawn before maturity for the period deposits remained with the bank
Did not pay interest on matured term deposits from the date of maturity till date of repayment at the applicable rate
Did not pay interest on term deposits maturing on sunday/holiday/non-business working day at originally contracted rate
Did not pay interest rate on deposits accept from senior citizens as per schedule of interest rates disclose in advance
Did not pay interest rates strictly as per schedule of interest rates disclosed in advance in several term deposit accounts
Did not pay interest to overdue recurring and/or term deposits from the date of maturity till the date of repayment
Did not place appropriate system for generating alerts for identification of suspicious transactions
Did not place appropriate system for identification of suspicious transactions
Did not place system to generate alerts when transactions inconsistent with risk categorisation & customer profile
Did not prepare balance sheet in the format as prescribed for co-operative banks under banking regulation act, 1949
Did not prepare risk profiles of all customers and did not fix threshold limit
Did not prepare/submit/publish balance sheet, profit & loss account and auditor's report as required under sections 29 and 31 of banking regulation (co-operative societies) RULES,1966
Did not produce audited balance sheets
Did not produce books of accounts before investigating officer
Did not provide 24X7 access through multiple channels to reportunauthorised electronic transactions that had taken place and/or loss or theft of payment instrument such as card etc.
Did not provide direct link to lodge complaints with specific option to report unauthorised electronic transactions on home page of website
Did not provide documents and complete information pertaining to affairs of the bank required by RBI inspecting officer(s)
Did not publish annual accounts for position
Did not publish correct amount of loans outstanding in the name of directors/relatives/firms in which they were interested in �notes on account� to balance sheet in annual reports
Did not publish correct information of loans outstanding in name of directors/relatives/firms in which they were interested in proforma i & ii to RBI
Did not publish/submit accounts and balance sheet with auditor�s report u/s 31 of the ibid act
Did not put in place a system of periodic review of risk categorisation of customers and/or accounts
Did not put in place a system of risk categorisation of accounts
Did not put in to use any robust software as a part of effective identification and reporting of suspicious transactions
Did not reckon accumulated loss for computation of capital fund to arrive at exposure limit
Did not reduce single borrower exposure limit for fresh loans and advances by 50% of applicable regulatory limit
Did not report cash transactions reports (ctr) to financial intelligence unit-india (fiu-ind)
Did not report cash transactions reports (ctr) to financial intelligence unit-india (fiu-ind) including director related accounts
Did not report frauds to RBI
Did not report grant of loans/advances/any other financial accommodation to relatives of its directors in OSS-6 returns to reserve bank of india
Did not submit accounts and balance-sheet together with auditor�s report for FY2022-23 to RBI within stipulated period of three months
Did not submit compliance of inspection report 2017
Did not submit correct certificate of transfer to depositor education & awareness fund
Did not submit ctr/str in respect of cash transactions in excess of Rs.10 lakh
Did not submit data (including historic data) to three credit information companies (cics)
Did not submit data to any of the four credit information companies (at monthly and/or shortly intervals)
Did not submit off-site surveillance (oss) returns violating section 27 of RBI act, 1934
Did not submit quarterly certificate of holding of government securities
Did not submit reply to show cause notice/s
Did not submit returns u/s 27 of the ibid act
Did not submit returns u/s 27(2) of banking regulation act, 1949
Did not submit statutory returns violating section 27 of RBI act, 1949
Did not submit statutory returns within prescribed timelines
Did not submit various returns
Did not submit/wrongly submitted compliance report
Did not take positive steps for capital augmentation and financial restructuring
Did not undertake ongoing customer due diligence and put into use robust software for generating alerts when transactions were inconsistent with customer profile
Did not upload credit information to credit information companies (cics)
Directors involved in day-to-day affairs of the bank
Disbursed fresh loans violating directions issued under supervisory action framework (saf)
Disbursed loans to individuals for purchase of land for more than Rs.25 lakh violating directives/instructions/guidelines
Displayed short name of the bank
Diverted loans for purpose of plot/land
Donated in excess of the prudential limit
Enrolled co-operative societies as members
Entered into one time settlement (ots) scheme with borrowers without prior written permission of RBI
Exceeded exposure to housing and real estate sectors
Exceeded individual/single exposure ceilings for lending operations
Exceeded limit prescribed for total number of nominal members as proportion of total number of regular members
Exceeded maximum limit on unsecured advances
Exceeded prescribed individual borrower exposure limit
Exposed to unsecured loans
Extended bill discounting facilities to non-constituents and walk-in customers
Extended credit facilities to units outside its area of operations
Extended donation to trust where director of the bank was administrator violating RBI circular UBD.BPD.(PCB).CIR.NO.7/09.72.000/2013-14 dated 30/08/2013
Extended loans to its directors and/or relative of the directors
Extremely unsatisfactory financial position
Failed to repay depositors
Financed borrowers outside area of operations
Floated trust for general public in violation of rules
Furnished incorrect credit information in respect of a number of expired credit cards with no dues to all four credit information companies
Generated suspicious transactions report and submitted to financial intelligence unit-india (fiu-ind)
Granted credit facilities to primary co-operative societies
Granted housing loans of more than Rs.70 lakh violating RBI circular NO.UBD.BPD.(PCB).CIR.NO.7/09.22.10/2011-12 dated 31/10/2011
Granted interest relief in a loan account of its ex-director
Granted loans to individuals and diversion of amount thereof to concerns in which directors were interested
Granted unsecured advances in excess of prudential individual limit
Granted unsecured advances to director related firm
Granted unsecured loans to director and/or their proprietorship firm
Granted/renewed loans, accepted fresh deposits and allowed withdrawal of deposits exceeding rs. 1000 violating directives/instructions/guidelines issued by RBI
Incurred capital expenditure without prior approval of RBI
Incurred operating expenses on gifting silver coins to shareholders violating specific directions issued by RBI under saf to curtail operating and administrative expenses to the maximum extent possible
Indulged in activities related to travel agent
Indulged in concentration of deposits
Indulged in destruction of records of banking transactions
Indulged in exposure to housing, real estate & commercial real estate and single and group exposure
Inordinate delay in reporting of securities transaction reports (strs) without any cogent reason
Irregular submission of various xbrl returns
Irretrievable and weak financial condition
Issued bank guarantee to entity not banking with the bank
Issued incorrect compliance certificate for earlier inspection report
Issued large number of 'at par' cheques to single party on same day in cash for value just below Rs.50,000 in circumvention of RBI directives/instructions/guidelines
Kept bank�s name without the word �co-operative�
Let out its premises to shops, doll museum etc
Levied atm card issuance charges and atm card annual maintenance charges in basic savings bank deposit (bsbd) accounts
Levied charges on certain customers for sending sms alert despite not having mobile numbers of such customers on record
Levied penal charges for non-maintenance of minimum balance in sb accounts without notifying customers
Levied penal charges for non-maintenance of minimum balance in sb accounts without notifying customers and providing them with one month notice for restoration of minimum balances
Levied penal charges for non-maintenance of minimum balances in dormant/inoperative saving bank accounts and/or current deposit accounts
Made donation to certain entity and offered higher interest rates on deposits (fresh/renewal) than those offered by sbi
Maintained saving bank accounts of 37 institutions whose entire income was not exempted from payment of income-tax under the income tax act, 1961
Major lapses in operations of the bank in terms of lending to sugar sector
Misreported under xbrl reporting system
Not available
Not in a position to pay its present and future depositors in full as and when their claims accrue
Observed material supervisory concerns as poor financials including large accumulated losses and negative net worth for past several years
Observed material supervisory concerns related to corporate governance in operations of one time settlement scheme by bank
Observed poor governance standards
Offered higher interest rates on term deposits than those offered by state bank of india
Offered interest rates on deposits for various durations higher than that offered by state bank of india in non-compliance with the saf directions
Offered interest rates on deposits higher than those offered by state bank of india and sanctioned fresh loans & advances violating directions issued under supervisory action framework (saf)
Opened 4 collection counters without prior approval of RBI
Opened and allowed transactions in current accounts of a company without undertaking customer due diligence procedure
Opened benami accounts and allowed huge deposits in such accounts
Opened branches without obtaining prior permission of RBI
Opened savings deposit accounts of trust whose entire income not exempt from payment of income-tax under the income tax act, 1961
Opened several savings deposit accounts in the name of ineligible entities
Opened/renewed term deposits at interest rates, higher than those offered by state bank of india for the same tenor
Persisting irregularities pointed out in previous inspection report
Planning to open bank in the name of "Indian commercial coop bank ltd." without obtaining licence from RBI
Planning to open bank in the name of "Rajadhani bank ltd." without obtaining licence from RBI
Prohibited from carrying on banking business in india under section 22 of the banking regulation act, 1949
Provided locker facility at its extension counter without obtaining prior approval of RBI
Purchased/discounted cheques beyond ceiling of Rs.25000 in current accounts
Recovered charges for activation of inoperative accounts, claiming to be reimbursement of expenses for such activation
Remissed debt due to the bank by jalgaon starch factory in which then directors of the bank had interest, without obtaining prior permission from RBI
Renewed advances to a company in which relative of a director of the bank was interested, being major shareholder in company
Reported incorrect information in form i relating to crr/slr and incorrect computation of dtl
Resorted to evergreening of accounts by closing non-performing loans violating RBI�s directives/instructions/guidelines on income recognition and asset classification (irac) and other related matters
Restructured credit facilities without establishing the financial viability and reasonable certainty of repayment by the borrowers
Sanctioned and renewed a loan to firm in which relative of director stood as guarantor of the loan
Sanctioned and/or renewed loan to a relative of one of its directors
Sanctioned credit facilities to individuals where relatives of its directors stood as guarantors
Sanctioned director related loans (fund and non-fund based) to companies/concerns, where directors or their relatives were interested
Sanctioned fresh hypothecation loan beyond revised exposure limit
Sanctioned fresh loans and advances and allowed cash credit facilities to be overdrawn violating specific directions issued under supervisory action framework (saf)
Sanctioned fresh loans and renewed cash credit limits of borrowers despite supervisory action framework (saf) restrictions
Sanctioned gold loans
Sanctioned loan to a director when it was prohibited
Sanctioned loan to a relative of one of its directors
Sanctioned loans on bullet repayment basis against gold/silver ornaments beyond prescribed ceiling limit
Sanctioned loans that breached ceiling on unsecured advances and exposure to individual members and nominal members
Sanctioned loans to nominal members beyond prescribed regulatory limit
Sanctioned loans to nominal members where loan amount in each case exceeded the applicable ceiling
Sanctioned multiple loans to relatives of the directors
Sanctioned overdraft against third party fixed deposits to one of its directors
Sanctioned uncollateralised fresh loans and advances
Sanctioned unsecured loan and renewed secured cash credit limit to directors
Sanctioned unsecured loans to directors
Sanctioned unsecured loans/advances to individuals wherein directors of bank stood as guarantors
Submitted false compliance to RBI inspection report violating provisions of banking regulation, act 1949
Submitted inaccurate information to reserve bank of india regarding credit facilities to directors and relatives
Submitted wrong/unsatisfactory/delayed compliance to RBI inspection report
Transited to small finance bank as per scheme of voluntary transition of primary (urban) co-operative banks (ucbs) into small finance banks (sbfs) of RBI
Unauthorised use of word 'bank' without prior permission/licence from RBI
Used abridged form of its name in social media posts on multiple occasions wherein full name of bank as appearing in banking license was not displayed prominently and also font size used for full name was smaller than one used for abbreviated name
Violated directives/instructions/guidelines by sanctioning fresh loans & advances
Violated directives/instructions/guidelines for granting unsecured credit facilities
Violated directives/instructions/guidelines for unsecured financial guarantees
Violated directives/instructions/guidelines issued by RBI
Violated directives/instructions/guidelines of by RBI on submission of false compliance regarding closure of npa accounts by indulging in ever greening of loans
Violated directives/instructions/guidelines of RBI for conducting banking business
Violated directives/instructions/guidelines of RBI on diversion of funds
Violated directives/instructions/guidelines of RBI on individual and group exposure limits
Violated directives/instructions/guidelines of RBI on investment by primary (urban) co-operative banks
Violated directives/instructions/guidelines of RBI on opening of on-site atms
Violated directives/instructions/guidelines of RBI on transfer of unclaimed deposits to depositor education and awareness fund under section 26(A) of banking regulation, act 1949 ibid
Violated directives/instructions/guidelines on advances to builders and contractors against security of land
Violated directives/instructions/guidelines on charging of interest on loan and advances
Violated directives/instructions/guidelines on limit of non-slr investment, individual and group exposure ceilings for lending operations
Violated directives/instructions/guidelines pertaining to ceiling on unsecured advances applicable to urban co-operative banks (ucbs)
Violated directives/instructions/guidelines relating to membership to co-operative credit societies
Violated directives/instructions/guidelines/rules on non-publication/submission of accounts and balance sheet
Violated instructions for irregularities in cheque discounting and overdrawal in od loan accounts etc
Violated instructions of RBI on opening of account and monitoring of cash transactions
Violated instructions on disposal of non-banking assets,donations and purchasing of cheques beyond ceiling of Rs.20 lakh per instr
Violated instructions on persistence of irregularities of previous inspection report and requirement of reporting of cash transactions in excess of Rs.10 lakh to fiu-ind,as required under aml directives/instructions/guidelines
Violated provisions of section 31 of banking regulation, act 1949 relating to publication/submission of accounts and balance sheet
Violated provisions related to prohibition of banks from granting any loan or advance to any of its directors
Violated RBI�s directives on loans to directors
Violated section 20 and section 20 a of the banking regulation act, 1949
Violated section 20 of banking regulation act, 1949
Violated section 26A of banking regulation act, 1949
Violated section 27 of banking regulation act, 1949
Violated section 27(2) of ibid act
Violated various directives/instructions/guidelines of RBI on issuance of at par cheques/pay orders against receipt of cash
Waived bank guarantee commission to chairman/director/relatives or to firms/companies in which any of its directors is interested
Credit Information Company	01/08/1996	21/11/2024
Actions by RBI
Imposed penalty
Reasons for Action
Did not have wholetime managing director/director violating sections 9(1) and 9(2) of credit information companies (regulation) act, 2005
Did not maintain accurate and complete data of credit information
Neither updated credit information nor informed the steps taken for correction of discrepancies and reasons for inability to comply with timeframe to provide correct information, within thirty days of receipt of such complaints,on receipt of complaints from some borrowers
Credit Rating Agencies	01/08/1996	21/11/2024
Actions by RBI
Cancelled certificate of registration
Directed not to take new clients/fresh
Directed to wind down its operations within six months
Reasons for Action
Delay in recognition of defaults in relation to issuers
Did not address issue of conflict of interest
Did not document meetings with management/undertake site visits
Did not make correct disclosure of material event in press release
Did not undertake independent analysis of projection provided by issuer
Electronic Trading Platforms	01/08/1996	21/11/2024
Actions by RBI
Cautioned public not to undertake forex transactions on unauthorized electronic trading platforms
Reasons for Action
Did not authorize to operate electronic trading platforms (etps) for forex transactions
Foreign Banks	01/08/1996	21/11/2024
Actions by RBI
Ceased to be a banking co.
Imposed penalty
Reasons for Action
Allotted multiple customer identification codes to same customers
Allowed operations and did not close several accounts open using otp based e-kyc in non-face-to-face mode, even after expiry of one year without conducting customer due diligence procedure
Deficiencies in compliance with RBI instructions on 'fit and proper' criteria for directors of banks
Delay in implementation of certain swift-related operational controls
Delay in reporting cyber security incident
Did not adhere to anti money laundering (aml) directives/instructions/guidelines
Did not adhere to certain directives/instructions/guidelines issued by RBI contained in reserve bank of india (interest rate on deposits) directives/instructions/guidelines, 2016
Did not adhere to directives/instructions/guidelines issued by RBI on granting non-fund based facilities to non-constituent borrowers
Did not adhere to directives/instructions/guidelines issued by RBI on interest rate on deposits
Did not adhere to directives/instructions/guidelines issued by RBI on obtaining declaration from customers about credit facilities enjoyed with other banks
Did not adhere to directives/instructions/guidelines issued by RBI on payment of remuneration to employees in form of commission
Did not adhere to directives/instructions/guidelines of RBI on �reserve bank of india (fraud classification and reporting by commercial banks and select fis) directives/instructions/guidelines, 2016�
Did not adhere to directives/instructions/guidelines of RBI on bank finance to NBFCs
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic review of risk categorisation of customers and/or accounts
Did not adhere to directives/instructions/guidelines of RBI on customer protection�limiting liability of customers in unauthorised electronic banking transactions
Did not adhere to directives/instructions/guidelines of RBI on cyber security framework in banks
Did not adhere to directives/instructions/guidelines of RBI on direct creation of payment messages in swift environment
Did not adhere to directives/instructions/guidelines of RBI on implementation of straight through processing (stp) between cbs/accounting system and swift system
Did not adhere to directives/instructions/guidelines of RBI on income recognition and asset classification (irac) norms and frauds
Did not adhere to directives/instructions/guidelines of RBI on independent reconciliation of logs generated from swift with corresponding entry passed in cbs/accounting system
Did not adhere to directives/instructions/guidelines of RBI on introduction of additional layer of approval for all payment messages exceeding particular threshold
Did not adhere to directives/instructions/guidelines of RBI on lending to NBFCs
Did not adhere to directives/instructions/guidelines of RBI on loans and advances�statutory and other restrictions
Did not adhere to directives/instructions/guidelines of RBI on nostro reconciliation on T+1/T+5 basis
Did not adhere to directives/instructions/guidelines of RBI on operating guidelines for small finance banks
Did not adhere to directives/instructions/guidelines of RBI on reporting of data on central repository of information on large credits (crils)
Did not adhere to directives/instructions/guidelines of RBI on reporting requirements under liberalised remittance scheme of FEMA,1999
Did not adhere to directives/instructions/guidelines of RBI on transfer of eligible funds to depositor education and awareness fund within prescribed period
Did not adhere to directives/instructions/guidelines of RBI to ensure that the users entering/passing/authorizing transactions in cbs different from those operating in swift environment
Did not adhere to directives/instructions/guidelines on kyc compliance for walk-in customers including for sale of third party products
Did not adhere to directives/instructions/guidelines on specifying the extent and conditions subject to which co-operative banks permitted to hold shares in any other co-operative society
Did not adhere to instructions of RBI on derivatives, such as failure to carry out due diligence in regard to suitability of products, selling derivative products to users not having risk management policies and not verifying underlying/adequacy of underlying and eligible limits under past performance route
Did not adhere to instructions of RBI on reporting requirements of foreign exchange management act, 1999 (fema)
Did not adhere to instructions of RBI on risk management & inter bank dealings and compliance functions
Did not adhere to instructions on classification of accounts as �in-operative�/dormant and lapses in monitoring of transactions in dormant accounts
Did not adhere to instructions on import of gold on consignment basis
Did not adhere to instructions on monitoring of transactions in customer accounts
Did not adhere to instructions on upper limit for remittances under liberalised remittance scheme
Did not adhere to instructions on upper limit for repatriation of funds from non resident ordinary (nro) accounts
Did not adhere to instructions which prohibits acceptance of cash above Rs.50, 000 for sale of gold coins and issue of demand drafts etc.
Did not adhere to RBI directives on derivatives
Did not adhere to section 10B of banking regulation act, 1949
Did not adhere to the directives/instructions/guidelines issued by RBI on managing risks and code of conduct in outsourcing of financial services by NBFCs and/or banks
Did not adhere to various directives/instructions/guidelines of RBI on time bound implementation and strengthening of swift related operational controls
Did not adopt uniform external benchmark within the same loan category in respect of certain loans
Did not disallow administrative rights on end points
Did not enable audit logs for database and operating system of servers
Did not ensure no negative amortisation while computing minimum payment due in credit card accounts
Did not file cash transaction reports (ctrs) in respect of some cash transactions, sale of gold coins for cash beyond rs. 50,000
Did not furnish information to RBI in stipulated time pertaining to a foreign currency loan facility to an offshore special purpose vehicle (spv)
Did not have cyber crisis management plan
Did not implement appropriate systems and controls to allow, manage and monitor access to critical servers
Did not implement multi factor authentication to access critical servers
Did not implement security operations centre to obtain real-time/near-real time information and insight into security posture of the bank
Did not implement system to generate alerts on real time basis, integrate logs with centralized monitoring solution and review alerts/logs
Did not implement systems to detect unusual and unauthorized, internal of external activities in database
Did not obtain no-objection certificate (noc) from lending banks at the time of opening current accounts
Did not undertake ongoing customer due diligence and put into use robust software for generating alerts when transactions were inconsistent with customer profile
Did not upload credit information to credit information companies (cics)
Did not verify data available in crilc database
Not available
Not submit compliance to risk assessment findings
Outsourced monitoring and disposal/closure (decision making function) of aml (anti-money laundering) alerts to a group company
Provided host of services and earned fees from its outsourcing agency violating section 6(1) of the banking regulation act, 1949
Full-fledged Money Changer	01/08/1996	21/11/2024
Actions by RBI
Licence revoked
Reasons for Action
Did not apply for renewal of licence before expiry of validity period and/or voluntary surrender of licence
Housing Finance Companies	01/08/1996	21/11/2024
Actions by RBI
Cancelled certificate of registration
Imposed penalty
Reasons for Action
Charged interest on loans for the period prior to date of actual disbursement of loan/issuance of cheque to certain borrowers in contravention of RBI directions on �fair practices code�
Charged pre-payment penalty in housing loans on (a) floating rate basis which were pre-closed from any sourceand (b) fixed rate basis which were pre-closed from borrower�s own sources
Did not adhere to directives/instructions/guidelines issued by RBI on all details of arrangement were disclose to customers upfront and their explicit consent was taken
Did not adhere to directives/instructions/guidelines issued by RBI on loan agreements with borrowers clearly contained the features of co-lending arrangement and roles & responsibilities of company and co-lending bank
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic review of risk categorisation of customers and/or accounts
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic updation of �know your clients� of customers as per risk categorisation
Did not adhere to directives/instructions/guidelines of RBI on creation of floating charges in favour of its depositors on a portion of assets invested by it in terms of section 29 of nhb act, 1987
Did not adhere to directives/instructions/guidelines of RBI on registration of charge with registrar of companies
Did not adhere to provisions of national housing bank act (nhb), 1987
Did not create floating charge on assets invested in favour of its depositors and register
Did not do risk categorisation of its customers
Did not make disclosure to retail borrowers, gradation of risk and rationale for charging different interest rates to different categories of borrowers in loan application form/sanction letter
Did not obtain prior written permission of RBI for change in management resulting in change in more than 30% of the directors, excluding independent directors
Did not obtain prior written permission of RBI for change in shareholding due to progressive increases over time, resulting in acquisition of shareholding beyond permitted limit
Did not obtain two independent valuation reports before sanctioning certain loans of Rs.75 lac and above
Did not put in place a system of periodic review of risk categorisation of customers and/or accounts
Did not review risk categorisation of its customers
Did not transfer matured deposits of certain depositors to designated bank accounts
Did not undertake risk categorization of customers
Surrendered certificate of registration
Local Area Banks	01/08/1996	21/11/2024
Actions by RBI
Cancelled banking license
Merger with another bank
Ordered of moratorium
Withdrawn in-principle approval given for setting up of local area banks
Reasons for Action
Breached minimum net worth requirement for two quarters in financial year
Delayed setting up of local area banks
Extremely unsatisfactory financial position
General character of management was prejudicial to interest of its present and future depositors
Multi Level Marketing Schemes	14/01/2010	21/11/2024
Actions by RBI
Make investors aware of the dangers of investing in such schemes and they must verify before enrolling in any such scheme whether the said scheme is a money circulation scheme as defined in section 2 (c ) of the prize chits and money circulation (banning) act, 1978.
Reasons for Action
Widespread scam in multi level marketing schemes noticed by RBI in various states; under section 3 of prize chits and money circulation schemes (banking) act, 1978, enrolling members to such schemes is a punishable offence
Nationalised Banks	01/08/1996	21/11/2024
Actions by RBI
Directed to suspended onboarding of customers on �bob world� mobile application
Imposed penalty
Reasons for Action
Allotted multiple customer identification codes to same customers
Allowed operations and did not close several accounts open using otp based e-kyc in non-face-to-face mode, even after expiry of one year without conducting customer due diligence procedure
Allowed operations in certain small accounts that did not meet regulatory requirement
Classified borrowed accounts as npas, leading to significant divergence between reported and assessed npas
Deficiencies in regulatory compliance
Delay in reporting cyber security incident
Delay in reporting of credit information pertaining to certain eligible loan accounts to crilc reporting platform of RBI
Delayed detecting & reporting of fraud in accounts
Delayed reporting of fraud in certain accounts
Did not adhere to anti money laundering (aml) directives/instructions/guidelines
Did not adhere to code of conduct for opening and operating current accounts
Did not adhere to directives pertaining to collection of third party account payee cheques
Did not adhere to directives/instructions/guidelines issued by RBI on credit card operations of banks read with guidelines on managing risks and code of conduct in outsourcing of financial services by banks
Did not adhere to directives/instructions/guidelines issued by RBI on interest rate on deposits
Did not adhere to directives/instructions/guidelines issued by RBI on payment of remuneration to employees in form of commission
Did not adhere to directives/instructions/guidelines issued by RBI on systemically important non-deposit taking company and deposit taking company reserve bank of india directives/instructions/guidelines, 2016
Did not adhere to directives/instructions/guidelines issued by RBI to concurrent audit system in commercial bank
Did not adhere to directives/instructions/guidelines of fema
Did not adhere to directives/instructions/guidelines of RBI in matter of deccan chronicle holdings ltd.
Did not adhere to directives/instructions/guidelines of RBI on �reserve bank of india (fraud classification and reporting by commercial banks and select fis) directives/instructions/guidelines, 2016�
Did not adhere to directives/instructions/guidelines of RBI on bank finance to NBFCs
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic updation of �know your clients� of customers as per risk
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic updation of �know your clients� of customers as per risk categorisation
Did not adhere to directives/instructions/guidelines of RBI on circular instructions on compliance function in banks
Did not adhere to directives/instructions/guidelines of RBI on classification and reporting of frauds
Did not adhere to directives/instructions/guidelines of RBI on creation of central repository of large common exposures - across banks read with central repository of information on large credits (crilc) � revision in reporting
Did not adhere to directives/instructions/guidelines of RBI on customer protection�limiting liability of customers in unauthorised electronic banking transactions
Did not adhere to directives/instructions/guidelines of RBI on depositor education and awareness fund scheme, 2014
Did not adhere to directives/instructions/guidelines of RBI on direct creation of payment messages in swift environment
Did not adhere to directives/instructions/guidelines of RBI on discounting/rediscounting of bills
Did not adhere to directives/instructions/guidelines of RBI on end use of funds-monitoring and deposits on balance sheet date
Did not adhere to directives/instructions/guidelines of RBI on external benchmark based lending
Did not adhere to directives/instructions/guidelines of RBI on framework to revitalise the distressed assets in the economy-rectification and restructuring
Did not adhere to directives/instructions/guidelines of RBI on fraud risk management and classification & reporting of frauds
Did not adhere to directives/instructions/guidelines of RBI on implementation of straight through processing (stp) between cbs/accounting system and swift system
Did not adhere to directives/instructions/guidelines of RBI on income recognition and asset classification (irac) norms and frauds
Did not adhere to directives/instructions/guidelines of RBI on independent reconciliation of logs generated from swift with corresponding entry passed in cbs/accounting system
Did not adhere to directives/instructions/guidelines of RBI on intra-group exposure limit and did not consider intra-day limit sanctioned to group entity for purpose of computing intra-group exposure limit
Did not adhere to directives/instructions/guidelines of RBI on introduction of additional layer of approval for all payment messages exceeding particular threshold
Did not adhere to directives/instructions/guidelines of RBI on lending to NBFCs
Did not adhere to directives/instructions/guidelines of RBI on loans and advances�statutory and other restrictions
Did not adhere to directives/instructions/guidelines of RBI on nostro reconciliation on T+1/T+5 basis
Did not adhere to directives/instructions/guidelines of RBI on opening of savings bank accounts
Did not adhere to directives/instructions/guidelines of RBI on operating guidelines for small finance banks
Did not adhere to directives/instructions/guidelines of RBI on preservation of records of identification of customers and/or their addresses
Did not adhere to directives/instructions/guidelines of RBI on prudential directives/instructions/guidelines for classification, valuation and operation of investment portfolio by banks
Did not adhere to directives/instructions/guidelines of RBI on prudential framework for resolution of stressed assets
Did not adhere to directives/instructions/guidelines of RBI on reporting of data on central repository of information on large credits (crils)
Did not adhere to directives/instructions/guidelines of RBI on risk management systems in banks
Did not adhere to directives/instructions/guidelines of RBI on sale of stressed assets by banks
Did not adhere to directives/instructions/guidelines of RBI on transfer of eligible funds to depositor education and awareness fund within prescribed period
Did not adhere to directives/instructions/guidelines of RBI on upfront disbursal of housing loans
Did not adhere to directives/instructions/guidelines of RBI on window-dressing of balance sheet classification and reporting of frauds
Did not adhere to directives/instructions/guidelines of RBI to ensure that the users entering/passing/authorizing transactions in cbs different from those operating in swift environment
Did not adhere to directives/instructions/guidelines of risk categorization of accounts
Did not adhere to directives/instructions/guidelines on combating of financing of terrorism (cft)/obligations of banks under prevention of money laundering act (pmla), 2002
Did not adhere to directives/instructions/guidelines on kyc compliance for walk-in customers including for sale of third party products
Did not adhere to instructions on classification of accounts as �in-operative�/dormant and lapses in monitoring of transactions in dormant accounts
Did not adhere to instructions on import of gold on consignment basis
Did not adhere to instructions on monitoring of transactions in customer accounts
Did not adhere to instructions on permitted credits to non-resident accounts
Did not adhere to instructions on upper limit for remittances under liberalised remittance scheme
Did not adhere to instructions on upper limit for repatriation of funds from non resident ordinary (nro) accounts
Did not adhere to instructions to file strs
Did not adhere to instructions which prohibits acceptance of cash above Rs.50, 000 for sale of gold coins and issue of demand drafts etc.
Did not adhere to prudential directives/instructions/guidelines of RBI on income recognition and asset classification (irac) and provisioning pertaining to advances-divergence in npa accounts
Did not adhere to regulatory requirements issued by RBI
Did not adhere to terms of agreement with reserve bank of india for opening & maintaining currency chests
Did not adhere to the directives/instructions/guidelines issued by RBI on disclosure of customer complaint and unreconciled balance on account of atm transactions and msme sector reconstruction of advances
Did not adhere to the directives/instructions/guidelines of RBI for opening of current accounts
Did not adhere to the directives/instructions/guidelines of RBI on detection & impounding of counterfeit notes
Did not adhere to the directives/instructions/guidelines of RBI on exchange of information with other banks
Did not adhere to the directives/instructions/guidelines of RBI on monitoring of end use of funds
Did not adhere to the directives/instructions/guidelines of RBI on restructuring of accounts
Did not adhere to various directives/instructions/guidelines of RBI on time bound implementation and strengthening of swift related operational controls
Did not benchmark floating rate personal and/or retail loans and loans to msme to an external benchmark
Did not constitute customer service committee of board, put in place a customer grievance redressal policy duly approved by the and maintain any register for complaints from customers/constituents in its branches
Did not credit (shadow reversal) amounts involved in certain unauthorized electronic transactions into accounts of customers within ten working days from the dates of notification by the customers
Did not credit eligible amount to depositor education and awareness fund within the period prescribed
Did not do risk categorisation of its customers
Did not enable customers to instantly respond by �reply� to sms and e-mail alert sent by the bank
Did not ensure integrity and quality of data submitted to crilc
Did not ensure minimum outstanding �loan component� at least, specified percentage of sanctioned fund based working capital limit for certain borrowers
Did not file cash transaction reports (ctrs) in respect of some cash transactions, sale of gold coins for cash beyond rs. 50,000
Did not furnish accurate information to credit information companies (cics)
Did not implement control measures for atms relating to end to end encryption of communication between atm terminal/pc and atm switch, within the timelines prescribed
Did not implement device binding control measure related to �sms delivery receipt check�
Did not implement fraud risk management system across all delivery channels
Did not link interest on floating rate retail loans and loans to msme to external benchmark
Did not link interest on floating rate rupee loans sanctioned and renewed during financial year 2020-21 to its marginal cost of lending rate (mclr)
Did not monitor payout transactions and carry out risk profiling of entities availing payout services
Did not obtain no objection certificate (noc) from banks which had sanctioned regular credit facilities to beneficiaries
Did not pay eligible interest at the time of repayment on matured unpaid term deposits for the period they remained unclaimed with bank
Did not pay interest rates strictly as per schedule of interest rates disclosed in advance in several term deposit accounts
Did not rectify rejected data and upload the same with credit information companies (cics) within seven days of receipt of such rejection report from cics
Did not report and/or inaccurately report data pertaining to certain large borrowers to crilc
Did not report certain cases of fraud to law enforcement agencies
Did not report RBI about fraud accounts within seven days of decision of joint lenders forum to declare accounts as fraud
Did not reset interest rates in mclr and external benchmark linked advances at prescribed periodicity
Did not resolve complaints and provide compensation to certain customers within ninety days from date of receipt of such complaints
Did not specify interest reset date in mclr-linked loans
Did not submit ctr/str in respect of cash transactions in excess of Rs.10 lakh
Did not submit revised returns on grounds of absence of data
Did not transfer unclaimed balances in certain fixed deposits, which remained unclaimed for more than ten years to depositors education and awareness fund within three months from expiry of the said period of ten years
Extended term loans to a corporation (a) without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects are sufficient to take care of the debt servicing obligations (b) failed to ensure that the repayment/servicingof the term loans was not made out of budgetary resources
Held shares as pledgee of amount exceeding 30% of paid-up share capital of certain companies
Involved in fake onboarding to increase bank customers on bob world mobile application
Levied interest from disbursement due date instead of actual date of disbursement
Levied sms alert charges from customers based on invalid mobile numbers and not on actual usage basis
Levied sms charges in certain accounts despite maintaining junk mobile numbers in core banking solution (cbs)
Marked lien against certain nre (non-resident external) savings deposits
Netted the items representing internal and external liabilities in inter-branch accounts,resulting in under-estimation of outside liabilities
Opened certain current accounts of non-constituent borrowers whose exposure to banking system was Rs.5 crore or more
Opened current account and provided bill discounting facilities to account holders without having any borrowing facility with the bank resulting in siphoning of funds
Opened savings deposit accounts in the name of co-operative bank
Opened several savings deposit accounts in the name of ineligible entities
Restructured certain accounts which were not standard assets as on 31/03/2021 under the extant directions
Sanctioned term loan to a corporation (i) in lieu of or to substitute budgetary resources envisaged for certain projects (ii) without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects were sufficient to take care of the debt servicing obligations and (iii) the repayment/servicing of which was made out of budgetary resources
Sanctioned working capital demand loan to a corporation against amounts receivable from government by way of subsidies/refunds/reimbursements
Violated banking regulation act, 1949
Violated instructions of RBI on opening of account and monitoring of cash transactions
NBFC	01/08/1996	21/11/2024
Actions by RBI
Appointed special officer to take charge of assets of the company
Cancelled certificate of registration
Cautioned public about unauthorised companies collecting deposits
Cautioned public against misuse of certificate of registration
Ceased and desist from doing any form of financing against shares & debentures, including sanction & disbursal of loans against initial public offering (ipo) of shares and subscription to debentures
Ceased and desist from sanctioning or disbursing gold loans or assigning/securitising/selling any of gold loan
Directed company to inform depositors regarding rejection of application for certificate of registration and plan of action for repayment of deposits
Directed to cease and desist from acquisition of financial assets including security receipts (srs) and reorganising existing srs into senior &subordinate tranches
Directed to cease and desist from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/or closure of accounts in its normal course of business
Directed to cease carrying out any recovery or repossession activity through outsourcing arrangements
Directed to stop allowing use of premises/branches or officials in any manner for accepting deposits from public
Directed to stop sanction and disbursal of loans under two lending products �ecom� and �insta emi card�
Filed petition for winding up of company with high court
Imposed penalty
Ordered to repay public deposits
Prohibited from accepting deposits
Prohibited from alienating its assets
Prohibited to commence/carry on business as NBFC
Rejection of application for certificate of registration as NBFC
Superseded board of directors
Reasons for Action
Accepted public funds and extended loans
Adopted restrictive practice of forcing customers to go in only for a particular insurance company in respect of assets financed by it
Allotted multiple customer identification codes to same customers
Allowed basic savings bank deposit (bsbd) account holders to open savings bank deposit account
Allowed operations and did not close several accounts open using otp based e-kyc in non-face-to-face mode, even after expiry of one year without conducting customer due diligence procedure
Allowed repayments in merchant finance loans to be routed through nodal account of a third party which was acting as a lending service provider for the company
Applied for cancellation of NBFC certificate as company never engaged in nor has plans to be in NBFC activities
Ceased to be a legal entity due to amalgamation/merger/dissolution/voluntary strike-off etc.
Ceased to be non-banking financial institution
Charged interest on loans from dates prior to dates of disbursal of loans contrary to terms and conditions of loans communicated to customers
Collected deposits from public in contravention of provisions of RBI ACT,1934
Collected money from public in money circulation schemes by making tall promises of high returns
Defaulted in payment of various payment obligations
Delay in finalizing balance sheet for year ending march, 2021 as the same was finalised after nearly seven months
Delay in reporting of frauds to RBI and/or nabard
Delay in submission of several returns on xbrl platform
Delay in submission of supervisory returns
Did not adhere to �know your customer� directives/instructions/guidelines in opening and/or operating the accounts
Did not adhere to certain directives/instructions/guidelines issued by RBI on issuance and operation of ppis in india
Did not adhere to directives/instructions/guidelines issued by RBI by changing its management without prior approval of reserve bank of india
Did not adhere to directives/instructions/guidelines issued by RBI on assessment of household income and consideration of existing/ proposed monthly repayment obligations
Did not adhere to directives/instructions/guidelines issued by RBI on credit card operations of banks read with guidelines on managing risks and code of conduct in outsourcing of financial services by banks
Did not adhere to directives/instructions/guidelines issued by RBI on data format for furnishing of credit information to credit information companies and other regulatory measures
Did not adhere to directives/instructions/guidelines issued by RBI on disclosure of annualized rate of interest charged on loans to the borrowers at the time of sanction and did not give notice of change in terms and conditions of loan to borrowers when it charged higher rate of interest than what was communicated at the time of sanction
Did not adhere to directives/instructions/guidelines issued by RBI on frauds monitoring and reporting mechanism
Did not adhere to directives/instructions/guidelines issued by RBI on non-banking financial company-acceptance of public deposits (reserve bank) directives/instructions/guidelines, 1998
Did not adhere to directives/instructions/guidelines issued by RBI on non-issuance of key fact statements to borrowers under two lending products and deficiencies in key fact statements issued in respect of other digital loans sanctioned by the company
Did not adhere to directives/instructions/guidelines issued by RBI on outsourcing and fair practices code in digital lending operations undertaken through third party apps
Did not adhere to directives/instructions/guidelines issued by RBI on payment to certain borrowers the surplus amounts realised by auction of gold articles pledged by those borrowers
Did not adhere to directives/instructions/guidelines issued by RBI on raising money through private placement of non-convertible debentures (ncds) by NBFCs
Did not adhere to directives/instructions/guidelines issued by RBI on reporting of frauds contained in monitoring of frauds in NBFCs reserve bank of inda directives/instructions/guidelines, 2016
Did not adhere to directives/instructions/guidelines issued by RBI on statutory requirements of transfer of 20% of net profit as disclosed in its profit and loss account to reserve fund
Did not adhere to directives/instructions/guidelines issued by RBI on verification of ownership of gold jewellery contained in NBFC reserve bank of inda directives/instructions/guidelines, 2016
Did not adhere to directives/instructions/guidelines issued by RBI oncode of conduct in outsourcing of financial services by outsourcing its core decision-making functions related toclient sourcing, kyc verification, credit appraisal, loan disbursal and loan recovery, follow up with borrowers and attending & resolving complaints from borrowers
Did not adhere to directives/instructions/guidelines issued by RBI oncode of conduct in outsourcing of financial services in its digital lending operations by outsourcing core decision-making functions such as credit appraisal, loan sanctioning and kyc verification process to service provider
Did not adhere to directives/instructions/guidelines issued by RBI vide non-banking financial company-returns (reserve bank) directives/instructions/guidelines, 2016
Did not adhere to directives/instructions/guidelines of RBI on appointment of independent directors/chief information officer/chief technology officer on it strategy committee
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic review of risk categorisation of customers and/or accounts
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic updation of �know your clients� of customers as per risk
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic updation of �know your clients� of customers as per risk categorisation
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic updation of kyc (know your clients) of certain customers within prescribed periodicity
Did not adhere to directives/instructions/guidelines of RBI on exposure limits on lending/investments in respect of single borrowers and single group of borrowers
Did not adhere to directives/instructions/guidelines of RBI on loan to value norms for lending against shares
Did not adhere to directives/instructions/guidelines of RBI on monitoring of frauds in NBFCs
Did not adhere to directives/instructions/guidelines of RBI on outsourcing
Did not adhere to directives/instructions/guidelines of RBI on outsourcing and fair practices code in digital lending operations undertaken through third party apps
Did not adhere to directives/instructions/guidelines of RBI on prepaid payment instrument issuers (ppis)
Did not adhere to directives/instructions/guidelines of RBI on prudential inter-bank (gross) exposure limits and/or inter-bank counter party exposure limits
Did not adhere to directives/instructions/guidelines of RBI on reporting of data on central repository of information on large credits (crils)
Did not adhere to directives/instructions/guidelines of RBI on robust software to throw alerts as part of effective identification of accounts and reporting of suspicious transactions
Did not adhere to directives/instructions/guidelines of RBI on serious governance
Did not adhere to directives/instructions/guidelines of RBI on settlement of loans and sharing of non-public information of clients with group entities
Did not adhere to directives/instructions/guidelines of RBI on trade receivables discounting system (treds)
Did not adhere to directives/instructions/guidelines of RBI on transfer of eligible funds to depositor education and awareness fund within prescribed period
Did not adhere to directives/instructions/guidelines on classify certain loans and/or credit facilities as non-performing assets in accordance with irac norms
Did not adhere to directives/instructions/guidelines on issuance and renewal of non-convertible debentures (ncds) and loan against ncds
Did not adhere to directives/instructions/guidelines on loan to value (ltv) ratio pertaining to gold loans
Did not adhere to fair practices code (fpc) and disclosures in the balance sheet etc.
Did not adhere to instructions of RBI and reported wrongly
Did not adhere to instructions of RBI to change the name without obtaining prior approval of RBI
Did not adhere to provisions of RBI act, 1934
Did not adhere to provisions on issuance of non-convertible debentures (reserve bank) directives/instructions/guidelines, 2010
Did not adhere to RBI commercial paper directives/instructions/guidelines, 2017
Did not adhere to RBI directives/instructions/guidelines on membership of credit information companies (cics)
Did not adhere to the specific direction of RBI to ensure full compliance with fair practices code (fpc) in letter and spirit
Did not adhere to various directives/instructions/guidelines/orders of RBI in respect of assignment transaction
Did not allot unique customer identification code (ucic) to individuals customers
Did not classify certain gold loan accounts with overdues of more than ninety days as non-performing assets (npas)
Did not close savings bank deposit accounts within thirty days from the date of opening of basic savings bank deposit (bsbd) accounts
Did not conduct is audit for network and security solutions since its inception
Did not constitute various committees of the board
Did not convey in writing the amount of loan sanctioned along with terms and conditions in vernacular language as understood by vehicle loan borrowers by means of a sanction letter or otherwise
Did not convey terms & conditions of loans in writing to borrowers in vernacular language understood by them
Did not create contingent provision against standard assets and had high leverage ratio
Did not do risk categorisation of its customers
Did not ensure adequate storage/retention of audit logs of email gateway and analyse or take action on a critical alert generated from endpoint detection & response solution for malware detection from infected server
Did not ensure that contract between company and outsourced vendors contained provision with respect to monitoring and oversight
Did not form it strategy committee and it steering committee
Did not give notice of change in terms and conditions of loan to borrowers when it charged annualized rate of interest higher than what communicated at the time of sanction
Did not identify beneficial owner in respect of entities onboarded by it to provide payout services
Did not intend to pronounce upon validity of any transaction or agreement entered into by NBFC with customers
Did not maintain loan-to-value (ltv) ratio of 75% in certain loan accounts
Did not maintain minimum regulatory net owned fund (nof) of Rs.5 crore and minimum capital adequacy ratio of 15% stipulated for NBFC-mfi
Did not maintain prescribed liquidity coverage ratio (lcr) of 60% as a result of inclusion of ineligible assets as high quality liquid assets (hqla) for computation of liquidity coverage ratio (lcr)
Did not make disclosure of components of adjusted net worth and other related information in its annual financial statements
Did not make disclosure of information on liquidity coverage ratio on its website
Did not make disclosure of required personal details including credit assessment and risk profile of borrowers to prospective lenders
Did not make disclosure to retail borrowers, gradation of risk and rationale for charging different interest rates to different categories of borrowers in loan application form/sanction letter
Did not make good shortfall in ltv ratio of 50% for loans granted against collateral within seven working days
Did not notify change in penal interest rate to borrowers, when it charged penal interest rate higher than what was communicated at the time of sanction
Did not obtain membership of credit information companies (cics)
Did not obtain membership of three out of four credit information companies (cics)
Did not obtain permanent account number (pan) card while granting gold loans in excess of Rs.5.00 lacs
Did not obtain prior approval of RBI for appointment of directors
Did not obtain prior written permission of RBI for change in management resulting in change in more than 30% of the directors, excluding independent directors
Did not obtain prior written permission of RBI for change in shareholding due to progressive increases over time, resulting in acquisition of shareholding beyond permitted limit
Did not provide copy of loan agreement and sanction letter in vernacular language to customers
Did not put in place a system of periodic review of risk categorisation of customers and/or accounts
Did not put in place system of internal audit of all outsourced activities
Did not put in to use any robust software as a part of effective identification and reporting of suspicious transactions
Did not submit applicable returns and statutory auditor�s certificate to RBI
Did not submit credit information pertaining to gold loan accounts to credit information companies
Did not submit data to any of the four credit information companies (at monthly and/or shortly intervals)
Did not submit data with respect to its gold loan customers to four credit information companies
Did not submit required information sought by bank and refused to co-operate and produce books of accounts or other documents during on-site inspection
Did not surrender certificate of registration
Did not undertake ongoing customer due diligence and put into use robust software for generating alerts when transactions were inconsistent with customer profile
Disbursed loans without specific approval of individual lenders
Earned fixed fee from its service provider, whereas service provider earned interest charged on the borrower on these loans and in some cases at exoRBItant rates in violation of fair practices code (code) guidelines issued by RBI
Exceeded weighted average lending rate (walr) and interest spread charged over their cost of funds
Faced cash flow issues and defaulted in repayment of Rs.49.27 crore to its lenders
Failed to repay depositors
Indulged in certain serious deficiencies in respect of loans sanctioned for ipo financing and subscription to non-convertible debentures (ncds)
Net cumulative negative mismatches in various maturity buckets of 1-30 days more than prescribed threshold limits
Not available
Not-traceable non-banking financial institution
Observed certain material supervisory concerns in the gold loan portfolio, did not adhere to standard auction process and lack of transparency in charges being levied to customer accounts
Observed deviation in respect of evergreening of loans, conduct of gold loan portfolio, mandated disclosure requirements on interest rates and fees, outsourcing of core financial services etc.
Offered interest on deposits of non-individual constituents at rates applicable to senior/super senior citizens
Opted to exit from business of non banking financial institution
Outsourced decision-making functions of determining compliance with kyc (know your customer) norms to certain outsourced agents
Partnership firm with the name of muthoot estate investments in which promoters of muthoot fincorp ltd. were partners, collected deposits in form of fixed deposits, cumulative deposits and special public deposits from public
Persistent/repeat complaints about harassment of customers due to recovery and collection methods a adopted by the company
Recovery agents did not report to harassment or intimidation of customers as part of its debt collection efforts
Routed amounts disbursed and collected in loan accounts in P2P platform through �co-lending escrow account� in violation of �fund transfer mechanism�
Sanctioned loans beyond prescribed loan to value (ltv) ratio
Submitted incorrect details of eligible book debts to its lenders for computation of drawing power
Surrendered certificate of registration
Took partial credit risk by foregoing service fee partially/fully which was not provided under the scope of activities for NBFC-P2P companies
Violated directives/instructions/guidelines issued by RBI
Violated directives/instructions/guidelines of RBI on data confidentiality and security of customer information by providing complete access to customer data to service provider
Violated fair practices code of master direction DNBR.PD.008/03.10.119/2016-17 dated 01/09/2016
Payment System Operators (non-bank)	01/08/1996	21/11/2024
Actions by RBI
Cancelled certificate of authorisation
Certificate of authorisation revoked
Directed not to further deposits or credit transactions or top ups allowin any customer accounts, prepaid instruments, wallets, fastags, national common mobility cards etc.
Directed to appoint it audit firm to conduct comprehensive system audit of it system
Directed to permit without any restrictions, withdraw or utilize balances from their accounts including savings bank accounts, current accounts, prepaid instruments, fastags, national common mobility cards etc. up to available balance
Directed to stop onboarding of new customers
Imposed penalty
Restrained from onboarding new domestic customers onto their card networks
Reasons for Action
Deficiencies in regulatory compliance
Did not adhere to directives/instructions/guidelines of RBI on master direction on money transfer service scheme (mtss) directions, 2017
Did not adhere to directives/instructions/guidelines of RBI on storage of payment system data
Did not adhere to instructions of RBI on material supervisory concerns
Did not adhere to instructions of RBI on supervisory action framework (saf)
Did not adhere to payment and settlement systems act, 2007
Did not adhere to regulatory requirements issued by RBI
Did not comply with directives/instructions/guidelines of RBI on comprehensive system audit report and subsequent compliance validation report of external auditors
Did not obtain necessary documents regarding nature and proof of business
Did not put in place mechanism to ensure integrity of critical file of applications, databases and operating systems
Did not renew certificate of registraton
Did not take live photographs of customers capturing water-mark in readable form, caf number, gps coordinates, authorized official�s name, unique employee code (assigned by re), date and time stamp while carrying out digital kyc
Issued demand drafts each for value of rupees fifty thousand and above without incorporating name of the purchaser on the face of it
Made persistent calls to some of the customers
Recovered sms alert charges from customers, not on actual usage basis
Surrendered certificate of registration
Voluntarily surrendered certificate of authorisation
Persons	01/08/1996	21/11/2024
Actions by RBI
Designated as terrorists
Reasons for Action
Involved in terrorism under unlawful activities (prevention) act, 1967
Prepaid Payment Instrument Issuers (non-bank)	01/08/1996	21/11/2024
Actions by RBI
Cancelled certificate of authorisation
Directed to refund balances held in existing talkcharge wallets
Directed to stop business of issuance and operation of wallets/ppis
Imposed penalty
Reasons for Action
Allowed operations and did not close several accounts open using otp based e-kyc in non-face-to-face mode, even after expiry of one year without conducting customer due diligence procedure
Contravened certain provisions of master directions on prepaid payment instruments (ppis) dated 27/04/2021 and card not present transactions
Did not adhere to certain directives/instructions/guidelines issued by RBI on issuance and operation of ppis in india
Did not adhere to directives/instructions/guidelines issued by RBI on �know your clients� requirements
Did not adhere to directives/instructions/guidelines of RBI on net-worth requirement
Did not adhere to directives/instructions/guidelines of RBI on prepaid payment instrument issuers (ppis)
Did not adhere to payment and settlement systems act, 2007
Did not adhere to regulatory requirements issued by RBI
Implemented payment authentication solution without regulatory clearance from RBI
Issued and operated ppis without certificate of authorization from RBI
Voluntarily surrendered certificate of authorisation
Primary Dealer	01/08/1996	21/11/2024
Actions by RBI
Cancelled certificate of registration
Rejection of application for renewal of registration
Withdrawn authorization as primary dealer
Reasons for Action
Did not adhere to provisions of RBI act, 1934
Did not fulfil minimum eligibility criteria
Surrendered certificate of registration
Private Banks	01/08/1996	21/11/2024
Actions by RBI
Ceased to be a banking co.
Directed to cease and desist from issuing fresh credit cards
Directed to cease and desist from onboarding of new customers through online and mobile banking channels
Directed to stop all transactions under liberalized remittance scheme
Imposed penalty
Merger with another bank
Ordered of moratorium
Superseded board of directors
Reasons for Action
A wholly owned subsidiary of the bank undertook business of technology service provider, which was not permissible business than be undertaken by a banking company
Adopted multiple benchmarks within same loan category
Allotted multiple customer identification codes to same customers
Allowed operations and did not close several accounts open using otp based e-kyc in non-face-to-face mode, even after expiry of one year without conducting customer due diligence procedure
Bank�s control systems failed in detecting irregularities
Ceased to be a legal entity due to amalgamation/merger/dissolution/voluntary strike-off etc.
Classified borrowed accounts as npas, leading to significant divergence between reported and assessed npas
Created financial/non-financial messages in swift without first ensuring that the underlying transactions have been duly reflected in cbs
Deficiencies in regulatory compliance
Delay in reporting cyber security incident
Deleted records in bank�s it systems
Did not adhere to anti money laundering (aml) directives/instructions/guidelines
Did not adhere to directives on composition of board of directors violating section 10A(2)(B) of RBI act.
Did not adhere to directives pertaining to collection of third party account payee cheques
Did not adhere to directives/instructions/guidelines issued by RBI on acceptance of deposits from non-residents
Did not adhere to directives/instructions/guidelines issued by RBI on educational loan scheme and credit flow to agriculture � agricultural loans � waiver of margin/security requirements
Did not adhere to directives/instructions/guidelines issued by RBI on financial inclusion - access to banking services - basic savings bank deposit account dated 10/08/2012
Did not adhere to directives/instructions/guidelines issued by RBI on financial services provided by banks
Did not adhere to directives/instructions/guidelines issued by RBI on payment of commission/fee to certain business correspondents which did not have a variable component
Did not adhere to directives/instructions/guidelines issued by RBI on payment of remuneration to employees in form of commission under a scheme for incentivizing recoveries of non-performing assets (npas)
Did not adhere to directives/instructions/guidelines issued by RBI on strengthening the controls of payment ecosystem between sponsor banks and scbs/ucbs as corporate customer dated 09/05/2019
Did not adhere to directives/instructions/guidelines of fema
Did not adhere to directives/instructions/guidelines of RBI in matter of deccan chronicle holdings ltd.
Did not adhere to directives/instructions/guidelines of RBI in relation to income recognition, asset classification and provisioning directives/instructions/guidelines
Did not adhere to directives/instructions/guidelines of RBI on �reserve bank of india (fraud classification and reporting by commercial banks and select fis) directives/instructions/guidelines, 2016�
Did not adhere to directives/instructions/guidelines of RBI on bank finance to NBFCs
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic review of risk categorisation of customers and/or accounts
Did not adhere to directives/instructions/guidelines of RBI on classification and reporting of frauds
Did not adhere to directives/instructions/guidelines of RBI on creation of central repository of large common exposures - across banks read with central repository of information on large credits (crilc) � revision in reporting
Did not adhere to directives/instructions/guidelines of RBI on customer protection�limiting liability of customers in unauthorised electronic banking transactions
Did not adhere to directives/instructions/guidelines of RBI on depositor education and awareness fund scheme, 2014
Did not adhere to directives/instructions/guidelines of RBI on direct creation of payment messages in swift environment
Did not adhere to directives/instructions/guidelines of RBI on direct sale of securities from its htm portfolio and specified disclosure in this regard
Did not adhere to directives/instructions/guidelines of RBI on fully automate npa identification process
Did not adhere to directives/instructions/guidelines of RBI on guarantees and co-acceptances
Did not adhere to directives/instructions/guidelines of RBI on implementation of straight through processing (stp) between cbs/accounting system and swift system
Did not adhere to directives/instructions/guidelines of RBI on income recognition and asset classification (irac) norms and frauds
Did not adhere to directives/instructions/guidelines of RBI on independent reconciliation of logs generated from swift with corresponding entry passed in cbs/accounting system
Did not adhere to directives/instructions/guidelines of RBI on installation of notes sorting machines
Did not adhere to directives/instructions/guidelines of RBI on introduction of additional layer of approval for all payment messages exceeding particular threshold
Did not adhere to directives/instructions/guidelines of RBI on issuance of bonus shares to non-resident entities
Did not adhere to directives/instructions/guidelines of RBI on lending to NBFCs
Did not adhere to directives/instructions/guidelines of RBI on levy of penal charges on non-maintenance of minimum balances in savings bank accounts
Did not adhere to directives/instructions/guidelines of RBI on loans and advances�statutory and other restrictions
Did not adhere to directives/instructions/guidelines of RBI on no incentive (cash or non-cash) to be paid to its staff engaged in insurance broking/corporate agency services by insurance co.
Did not adhere to directives/instructions/guidelines of RBI on nostro reconciliation on T+1/T+5 basis
Did not adhere to directives/instructions/guidelines of RBI on operating guidelines for small finance banks
Did not adhere to directives/instructions/guidelines of RBI on operational guidelines, 2014
Did not adhere to directives/instructions/guidelines of RBI on payment of interest on balance amounts lying in current accounts of deceased individual depositors/sole proprietorship concerns while making payments to claimants
Did not adhere to directives/instructions/guidelines of RBI on preservation of records of identification of customers and/or their addresses
Did not adhere to directives/instructions/guidelines of RBI on promoter holding
Did not adhere to directives/instructions/guidelines of RBI on prudential directives/instructions/guidelines for classification, valuation and operation of investment portfolio by banks
Did not adhere to directives/instructions/guidelines of RBI on reporting of data on central repository of information on large credits (crils)
Did not adhere to directives/instructions/guidelines of RBI on treasury function and deficiencies in its compliance function & compliance culture
Did not adhere to directives/instructions/guidelines of RBI to ensure that the users entering/passing/authorizing transactions in cbs different from those operating in swift environment
Did not adhere to directives/instructions/guidelines of risk categorization of accounts
Did not adhere to directives/instructions/guidelines on kyc compliance for walk-in customers including for sale of third party products
Did not adhere to instructions of RBI on derivatives, such as failure to carry out due diligence in regard to suitability of products, selling derivative products to users not having risk management policies and not verifying underlying/adequacy of underlying and eligible limits under past performance route
Did not adhere to instructions of RBI on material supervisory concerns
Did not adhere to instructions of RBI on reporting requirements of foreign exchange management act, 1999 (fema)
Did not adhere to instructions on classification of accounts as �in-operative�/dormant and lapses in monitoring of transactions in dormant accounts
Did not adhere to instructions on import of gold on consignment basis
Did not adhere to instructions on monitoring of transactions in customer accounts
Did not adhere to instructions on upper limit for remittances under liberalised remittance scheme
Did not adhere to instructions on upper limit for repatriation of funds from non resident ordinary (nro) accounts
Did not adhere to instructions to file strs
Did not adhere to instructions which prohibits acceptance of cash above Rs.50, 000 for sale of gold coins and issue of demand drafts etc.
Did not adhere to it inventory management, patch &change management, user access management, vendor risk management, data security &data leak prevention strategy, business continuity and disaster recovery rigour & drill etc.
Did not adhere to one of the licensing conditions stipulated by RBI
Did not adhere to provisions of RBI act, 1934
Did not adhere to prudential directives/instructions/guidelines of RBI on income recognition and asset classification (irac) and provisioning pertaining to advances-divergence in npa accounts
Did not adhere to RBI directives on derivatives
Did not adhere to RBI lending to micro, small & medium enterprises (msme) sector directives/instructions/guidelines, 2017
Did not adhere to RBI regulations
Did not adhere to regulatory restrictions pertaining to non-fund based facilities
Did not adhere to the directives/instructions/guidelines of RBI for opening of current accounts
Did not adhere to the directives/instructions/guidelines of RBI on detection & impounding of counterfeit notes
Did not adhere to the directives/instructions/guidelines of RBI on payment of compensation for delay in resolution of atm-related customer complaints
Did not adhere to the directives/instructions/guidelines of RBI on reporting of assessment under rbs
Did not adhere to various regulations of RBI in assessment of non-performing assets (npas)
Did not allocate unique customer identification code (ucic)
Did not benchmark floating rate personal and/or retail loans and loans to msme to an external benchmark
Did not carry out annual review/due diligence of service provider
Did not communicate decision of its internal ombudsman (io) properly
Did not ensure adequate & effective arrangements by constituent to meet commitment while granting letter of credit facility
Did not ensure appropriate behavior of recovery agents with some of delinquent borrowers and did not ensure a tape recording of the content/text of the calls made by the recovery agents
Did not ensure integrity and quality of data submitted to crilc
Did not ensure that customers are not contacted after 7 pm and before 7 am
Did not ensure that the pre-employment police verification was carried out for recovery agents engaged by it
Did not ensure that the recovery agents engaged by bank either directly or through recovery agencies had completed training course for direct recovery agents and obtained certificate from indian institute of banking & finance
Did not file cash transaction reports (ctrs) in respect of some cash transactions, sale of gold coins for cash beyond rs. 50,000
Did not inform iba regarding terrmination of service providers
Did not observe certain safeguards in respect of arrangement of �at par� payment of cheques drawn by co-operative banks
Did not obtain annual declaration in form b from one of major shareholders
Did not obtain declarations from customers at the time of opening of current accounts
Did not obtain permanent account number (pan) card details or form 60/61
Did not pay interest to overdue term deposits from the date of maturity till the date of repayment
Did not price certain floating rate loans with reference to actual benchmark rate applicable to those loans
Did not provide certain documents sought by RBI and misrepresented that such documents were not available
Did not re-designate few accounts as nro accounts
Did not report frauds to RBI
Did not report to RBI about cyber-security incident involving atms of the bank within prescribed timeframe
Did not reset interest rates in mclr and external benchmark linked advances at prescribed periodicity
Did not review/renew certain loan accounts within prescribed period and did not classify accounts as non-performing assets (npa)
Did not submit details of shareholding of promoters & proposed course of action/plans/strategy to comply with permitted timeline for dilution of promoter shareholding
Did not verify source of funds credited to few non-resident ordinary (nro) accounts
Engaged business correspondents for establishing account-based relationship with customers from certain regions, not acceded by RBI
Extended term loans to a corporation (a) without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects are sufficient to take care of the debt servicing obligations (b) failed to ensure that the repayment/servicingof the term loans was not made out of budgetary resources
Extremely unsatisfactory financial position
Furnished certificates to RBI regarding continuance of 'fit and proper� status of one of major shareholder
Gave gifts (in the form of paying first-year premium for complimentary life insurance cover) costing more than Rs.250 to the depositors at the time of accepting certain deposits
Irregularities in conduct of accounts of a corporate group
Levied foreclosure charges despite there was no clause in loan agreement for levy of prepayment penalty on loans recalled/foreclosure initiated by bank
Levied penal charges for non-maintenance of minimum balance in sb accounts without notifying customers
Levied penal charges for non-maintenance of minimum balances in dormant/inoperative saving bank accounts and/or current deposit accounts
Levied penal charges in certain accounts for late payment of credit card dues though customers had paid dues by due date through third party platforms
Made persistent calls to some of the customers
Made pillar 3 disclosures in its annual report and website
Marked lien against certain nre (non-resident external) savings deposits
Marketed and engaged in sale of non-financial product
Obtained collateral security for agricultural loans upto Rs.1.60 lac in certain cases
Offered interest rate applicable to normal term deposits on certain senior citizen term deposits instead of higher rate of interest applicable to such deposits
Opened and allowed transactions in current accounts of a company without undertaking customer due diligence procedure
Opened and operated certain internal accounts in the name of its customers for unauthorized purposes like parking funds and routing customer transactions
Opened several savings deposit accounts in the name of ineligible entities
Persistent/repeat complaints about harassment of customers due to recovery and collection methods a adopted by the company
Sanctioned loan to a relative of one of its directors
Sanctioned loans to certain borrowers against pledge of gold ornaments and jewellery for non-agricultural purposes exceeding 75% of value of gold ornaments and jewellery
Sanctioned term loan to a corporation (i) in lieu of or to substitute budgetary resources envisaged for certain projects (ii) without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects were sufficient to take care of the debt servicing obligations (iii) the repayment/servicing of which was made out of budgetary resources and iv) without ensuring that the funding proposals were for specific monitorable projects
Sanctioned term loan to a psu for financing infrastructure projects (i) without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects were sufficient to take care of the debt servicing obligations and (ii) repayment/servicing of term loans was made out of budgetary resources
Violated directives/instructions/guidelines of RBI on ipo financing
Violated directives/instructions/guidelines of RBI on opening of accounts including joint accounts
Violated directives/instructions/guidelines of RBI on transfer of unclaimed deposits to depositor education and awareness fund under section 26(A) of banking regulation, act 1949 ibid
Violated regulations of RBI on ensuring end-use of bank's funds lent to borrowers
Violated sub-section (1) of section 35A of banking regulation act, 1949
Wrongly reported external rating of certain borrowers to central repository of information on large credits (crilc)
Private Banks (payments Banks)	01/08/1996	21/11/2024
Actions by RBI
Imposed penalty
Reasons for Action
Allowed operations and did not close several accounts open using otp based e-kyc in non-face-to-face mode, even after expiry of one year without conducting customer due diligence procedure
Did not adhere to the directives/instructions/guidelines issued by RBI on timely submission of application of reappointment of managing director and chief executive officer
Public Sector Banks	01/08/1996	21/11/2024
Actions by RBI
Imposed penalty
Reasons for Action
Allowed operations and did not close several accounts open using otp based e-kyc in non-face-to-face mode, even after expiry of one year without conducting customer due diligence procedure
Did not adhere to anti money laundering (aml) directives/instructions/guidelines
Did not adhere to certain provisions of directives/instructions/guidelines issued by RBI contained in the circular dated 16/11/2019 on marketing/distribution of mutual fund/insurance etc., products by banks
Did not adhere to directives/instructions/guidelines of RBI in matter of deccan chronicle holdings ltd.
Did not adhere to directives/instructions/guidelines of RBI on cheque purchase/discounting and bill discounting etc.
Did not adhere to directives/instructions/guidelines of RBI on direct creation of payment messages in swift environment
Did not adhere to directives/instructions/guidelines of RBI on implementation of straight through processing (stp) between cbs/accounting system and swift system
Did not adhere to directives/instructions/guidelines of RBI on independent reconciliation of logs generated from swift with corresponding entry passed in cbs/accounting system
Did not adhere to directives/instructions/guidelines of RBI on introduction of additional layer of approval for all payment messages exceeding particular threshold
Did not adhere to directives/instructions/guidelines of RBI on nostro reconciliation on T+1/T+5 basis
Did not adhere to directives/instructions/guidelines of RBI pertaining to sanction/renewal of loans & advances
Did not adhere to directives/instructions/guidelines of RBI to ensure that the users entering/passing/authorizing transactions in cbs different from those operating in swift environment
Did not adhere to instructions of RBI on derivatives, such as failure to carry out due diligence in regard to suitability of products, selling derivative products to users not having risk management policies and not verifying underlying/adequacy of underlying and eligible limits under past performance route
Did not adhere to instructions on funds received through real time gross settlement system (rtgs)
Did not adhere to instructions on monitoring of transactions in customer accounts
Did not exercise due diligence in opening of fixed deposit accounts & granting of overdrafts
Middlemen/intermediaries involved in opening of accounts and also subsequent operations in those accounts
Violated directives/instructions/guidelines issued by RBI
Weaknesses in internal control systems, management oversight and used internal accounts for parking customer funds etc.
Regional Rural Banks	01/08/1996	21/11/2024
Actions by RBI
Imposed penalty
Reasons for Action
Allotted multiple customer identification codes to same customers
Allowed operations and did not close several accounts open using otp based e-kyc in non-face-to-face mode, even after expiry of one year without conducting customer due diligence procedure
Defaulted in maintenance of Cash Reserve Ratio
Delay in transfer of eligible unclaimed deposits to depositor education & awareness fund
Did not adhere to directives/instructions/guidelines of RBI in relation to income recognition, asset classification and provisioning directives/instructions/guidelines
Did not adhere to directives/instructions/guidelines on classify certain loans and/or credit facilities as non-performing assets in accordance with irac norms
Did not adhere to directives/instructions/guidelines on exposure limits for single investment
Did not adhere to directives/instructions/guidelines on prudential directives/instructions/guidelines
Did not classify certain loan accounts as non-performing assets (npas) resulting into divergence in asset classification of loan ACCOUNTS
Violated branch licensing directives/instructions/guidelines
Residuary Non-banking Co.	01/08/1996	21/11/2024
Actions by RBI
Ordered to lodge all securities held in custody with the designated bank for custody
Ordered to repay public deposits
Prohibited from accepting deposits
Reasons for Action
Violated directives/instructions/guidelines issued by RBI
Satellite Dealer	01/08/1996	21/11/2024
Actions by RBI
Cancelled certificate of registration
Reasons for Action
Business taken over by another company
Scheduled Co-operative Banks	01/08/1996	21/11/2024
Actions by RBI
Cancelled banking license
Directed registrar of co-operative societies to issue order for winding up of bank and appoint liquidator
Imposed penalty
Prohibited from disbursing any payments (except to small depositors)
Prohibited from entering into any arrangements
Prohibited from granting/renewing any loans/advances
Prohibited from incurring any liability including borrowal of funds/fresh deposits
Prohibited from making any investment
Prohibited from selling/transferring any properties/assets
Rejection of application for banking license
Winding up of bank
Reasons for Action
Did not adhere to directives/instructions/guidelines of RBI on income recognition and asset classification (irac) norms and frauds
Did not adhere to provisions of sections 11(1), 22(3)(A) and 22(3)(B) of the banking regulation act, 1949 (as applicable to co-operative societies)
Did not adhere to RBI regulations
Extremely unsatisfactory financial position
Failed to pay debts
Irretrievable and weak financial condition
Urban Co-operative Banks	01/08/1996	21/11/2024
Actions by RBI
Cancelled banking license
Cancelled certificate of registration
Cautioned public that RBI has not granted permission to carry out banking activities
Directed registrar of co-operative societies to issue order for winding up of bank and appoint liquidator
Imposed penalty
Liquidator appointed by state government
Ordered to repay public deposits
Placed under directions
Prohibited from carrying on 'banking business' including acceptance and repayment of deposit
Prohibited from disbursing any payments (except to small depositors)
Prohibited from entering into any arrangements
Prohibited from granting secured loans against certain securities
Prohibited from granting/renewing any loans/advances
Prohibited from incurring any liability including borrowal of funds/fresh deposits
Prohibited from making any investment
Prohibited from selling/transferring any properties/assets
Rejection of application for banking license
Restrained from granting or renewing any loan /advances, make any investment, incur any liabilities including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets
Restrained from granting or renewing any loan /advances, make investment, incur liabilities, borrow, deal in properties etc. without approval of RBI in writing
Reasons for Action
Allotted multiple customer identification codes to same customers
Allowed limits beyond exposure ceiling
Allowed operations and did not close several accounts open using otp based e-kyc in non-face-to-face mode, even after expiry of one year without conducting customer due diligence procedure
Ceased to be solvent
Collected fix penalty for shortfall in maintenance of minimum balance in saving bank accounts instead of proportionate to the extent of shortfall
Default in maintenance of statutory liquidity ratio (slr)
Defaulted in maintenance of Cash Reserve Ratio
Delay in reporting cyber security incident
Delay in reporting of frauds to RBI and/or nabard
Did not adhere to �know your customer� directives/instructions/guidelines in opening and/or operating the accounts
Did not adhere to anti money laundering (aml) directives/instructions/guidelines
Did not adhere to certain directives/instructions/guidelines issued by RBI under supervisory action framewark
Did not adhere to directives/instructions/guidelines for gold loan with bullet repayment option
Did not adhere to directives/instructions/guidelines issued by RBI on board of directors of urban co-operative banks (ucbs)
Did not adhere to directives/instructions/guidelines issued by RBI on interest rate on deposits
Did not adhere to directives/instructions/guidelines of RBI in relation to income recognition, asset classification and provisioning directives/instructions/guidelines
Did not adhere to directives/instructions/guidelines of RBI on basic cyber security framework and/or comprehensive cyber security framework for primary (urban) co-operative banks
Did not adhere to directives/instructions/guidelines of RBI on breach of prescribed individual borrower exposure limit
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic review of risk categorisation of customers and/or accounts
Did not adhere to directives/instructions/guidelines of RBI on carrying out periodic updation of �know your clients� of customers as per risk
Did not adhere to directives/instructions/guidelines of RBI on classification and reporting of frauds
Did not adhere to directives/instructions/guidelines of RBI on customer protection�limiting liability of customers in unauthorised electronic banking transactions
Did not adhere to directives/instructions/guidelines of RBI on depositor education and awareness fund scheme, 2014
Did not adhere to directives/instructions/guidelines of RBI on donations to trusts and institutions where directors and relatives hold position or interested
Did not adhere to directives/instructions/guidelines of RBI on exposure directives/instructions/guidelines and statutory/other restrictions
Did not adhere to directives/instructions/guidelines of RBI on extended loans to directors, resorted to ever-greening of director related loans and breached single borrower exposure limits
Did not adhere to directives/instructions/guidelines of RBI on extension of fresh loans and advances carrying risk weights of 100% and above
Did not adhere to directives/instructions/guidelines of RBI on granting loans for real estate purposes
Did not adhere to directives/instructions/guidelines of RBI on income recognition and asset classification (irac) norms and frauds
Did not adhere to directives/instructions/guidelines of RBI on levy of penal charges on non-maintenance of minimum balances in savings bank accounts
Did not adhere to directives/instructions/guidelines of RBI on loans and/or advances to directors and their relatives
Did not adhere to directives/instructions/guidelines of RBI on maintenance of deposit accounts
Did not adhere to directives/instructions/guidelines of RBI on management of advances
Did not adhere to directives/instructions/guidelines of RBI on maximum limits on unsecured advances/loans
Did not adhere to directives/instructions/guidelines of RBI on prohibiting loans & advances to directors & their relatives and firms/companies/concerns in which they are interested
Did not adhere to directives/instructions/guidelines of RBI on prudential inter-bank (gross) exposure limits and/or inter-bank counter party exposure limits
Did not adhere to directives/instructions/guidelines of RBI on prudential inter-bank counter party limit with multiple banks
Did not adhere to directives/instructions/guidelines of RBI on prudential inter-bank single & gross exposure limit
Did not adhere to directives/instructions/guidelines of RBI on requirements on is audit and internal audit compliance
Did not adhere to directives/instructions/guidelines of RBI on robust software to throw alerts as part of effective identification of accounts and reporting of suspicious transactions
Did not adhere to directives/instructions/guidelines of RBI on single borrower exposure limit and/or unsecured individual borrower limit
Did not adhere to directives/instructions/guidelines of RBI on transfer of eligible funds to depositor education and awareness fund
Did not adhere to directives/instructions/guidelines of RBI on transfer of eligible funds to depositor education and awareness fund within prescribed period
Did not adhere to directives/instructions/guidelines of RBI pertaining to issue of cheque books
Did not adhere to directives/instructions/guidelines of risk categorization of accounts
Did not adhere to directives/instructions/guidelines on admission of co-operative societies as nominal members
Did not adhere to directives/instructions/guidelines on classify certain loans and/or credit facilities as non-performing assets in accordance with irac norms
Did not adhere to directives/instructions/guidelines on prudential directives/instructions/guidelines
Did not adhere to directives/instructions/guidelines on share linking directives/instructions/guidelines
Did not adhere to instructions of RBI on supervisory action framework (saf)
Did not adhere to provisions of RBI act, 1934
Did not adhere to provisions of RBI act, 1949
Did not adhere to RBI regulations
Did not adhere to the ceiling as prescribed by RBI on donation
Did not adhere to the ceiling as prescribed by RBI on levy of service charges on customers
Did not adhere to the directions issued under saf for payment of dividend
Did not conduct annual review of inoperative and/or dormant accounts
Did not constitute customer service committee of board, put in place a customer grievance redressal policy duly approved by the and maintain any register for complaints from customers/constituents in its branches
Did not get books of the bank audited by statutory auditors
Did not have adequate capital structure & earning prospects and not in a position to pay its present and/or future depositors in full
Did not implement certain basic cyber security control measures and requirements under cyber security framework prescribed by RBI
Did not monitor operations in certain deposit accounts
Did not pay eligible interest at the time of repayment on term deposits maturing on sunday/holiday/non-business working day and paid on succeeding working days
Did not pay interest on matured term deposits from the date of maturity till date of repayment at the applicable rate
Did not pay interest on term deposits which were withdrawn prematurely
Did not provide records/information/statements of accounts of various heads and vouchers with supporting documents etc. for verification
Did not submit correct certificate of transfer to depositor education & awareness fund
Did not submit data (including historic data) to three credit information companies (cics)
Did not upload credit information to credit information companies (cics)
Did not upload customer�s know your clients (kyc) records on ckycr within ten days of commencement of account-based relationship with customers
Extended loans to its directors and/or relative of the directors
Extremely unsatisfactory financial position
Granted unsecured loans to director and/or their proprietorship firm
Incurred capital expenditure exceeding Rs.25,000 per year without prior approval of RBI
Incurred capital expenditure without prior approval of RBI
Irretrievable and weak financial condition
Issued balance confirmation letters without having balance in accounts
Levied foreclosure charges despite there was no clause in loan agreement for levy of prepayment penalty on loans recalled/foreclosure initiated by bank
Made donations violating directions issued under supervisory action framework (saf)
Offered interest rates on deposits for various durations higher than that offered by state bank of india in non-compliance with the saf directions
Paid dividend, sanctioned/renewed loans exceeding 50% of applicable regulatory limit for single borrower exposure, incurred capital expenditure exceeding prescribed limit and incurred operating expenditure by granting gifts
Reported incorrect liquidity position and did not maintain enough liquidity to repay to depositors
Sanctioned and/or renewed loan to a relative of one of its directors
Sanctioned credit facilities to individuals where relatives of its directors stood as guarantors
Sanctioned credit facilities to sectors having high proportion of non-performing assets and fresh loans & advances carrying risk weights more than 100% violating directions issued under supervisory action framework (saf)
Sanctioned fresh loans and advances and allowed cash credit facilities to be overdrawn violating specific directions issued under supervisory action framework (saf)
Sanctioned fresh loans and advances to single borrowers in excess of 50% of applicable regularity limits
Sanctioned fresh loans in excess of exposure limit prescribed under supervisory action framework (saf)
Sanctioned loan to a relative of one of its directors
Sanctioned loans on bullet repayment basis against gold/silver ornaments beyond prescribed ceiling limit
Sanctioned loans to nominal members beyond prescribed regulatory limit
Sanctioned loans to nominal members where loan amount in each case exceeded the applicable ceiling
Sanctioned or renewed multiple director related credit facilities (both fund and non-fund based) to companies / concerns where directors or their relatives were interested despite having been penalised for the same earlier
Sanctioned unsecured advances beyond prescribed regulatory limit
Sanctioned/ renewed credit facilities to sectors having high level of non-performing assets (npas)/ defaults
Submitted inaccurate information to reserve bank of india regarding credit facilities to directors and relatives
Submitted incomplete data to one credit information companies (cics)
Unauthorised use of word 'bank' without prior permission/licence from RBI
Violated directives/instructions/guidelines by sanctioning fresh loans & advances
Violated directives/instructions/guidelines for granting unsecured credit facilities
Violated directives/instructions/guidelines issued by RBI
Violated directives/instructions/guidelines of RBI for conducting banking business
Violated directives/instructions/guidelines of RBI on individual and group exposure limits
Violated directives/instructions/guidelines pertaining to ceiling on unsecured advances applicable to urban co-operative banks (ucbs)
Violated instructions of RBI on membership of co-operative societies,conduct of non-banking business,use of word�bank�in the name of another institution and share linking directives/instructions/guidelines
Violated instructions on persistence of irregularities of previous inspection report and requirement of reporting of cash transactions in excess of Rs.10 lakh to fiu-ind,as required under aml directives/instructions/guidelines
Violated provisions of section 31 of banking regulation, act 1949 relating to publication/submission of accounts and balance sheet
Violated RBI�s directives on loans to directors
Violated sub-section (1) of section 35A of banking regulation act, 1949
Waived interest on advance which was related to a director of the bank
White Label Atm Operators (non-bank)	01/08/1996	21/11/2024
Actions by RBI
Cancelled certificate of authorisation
Imposed penalty
Reasons for Action
Did not adhere to certain directives/instructions/guidelines issued by RBI on white label atms in india guidelines, 2012
Did not comply with the directions issued by RBI on atm deployment targets
Voluntarily surrendered certificate of authorisation

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ACE DERIVATIVES & COMMODITY STOCK EXCHANGE LTD. (since closed)

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19/05/2011

31/12/2019

ASSOCIATION OF MUTUAL FUNDS OF INDIA,THE

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30/09/2013

31/10/2024

BANKS

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29/03/2000

12/11/2024

BOARD FOR INDUSTRIAL & FINANCIAL RECONSTRUCTION (since dissolved)

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31/12/1987

31/10/2005

BSE LTD.

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05/06/1995

21/11/2024

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CENTRAL BUREAU OF INVESTIGATION

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COMPANY LAW BOARD

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30/06/2008

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16/08/2000

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DELHI STOCK EXCHANGE LTD. (since dissolved)

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31/03/2002

30/09/2020

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15/04/2015

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31/03/2005

23/09/2021

INDIAN CLEARING CORP.LTD.

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25/09/2012

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INDIAN COMMODITY EXCHANGE LTD.

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10/06/2006

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INSOLVENCY & BANKRUPTCY BOARD OF INDIA - NATIONAL COMPANY LAW TRIBUNAL

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INSURANCE REGULATORY & DEVELOPMENT AUTHORITY OF INDIA

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INTER-CONNECTED STOCK EXCHANGE

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METROPOLITAN STOCK EXCHANGE OF INDIA LTD.

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20/05/2010

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MINISTRY OF FINANCE - FINANCIAL INTELLIGENCE UNIT

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MINISTRY OF FINANCE - FORWARD MARKETS COMMISSION (since merged with SEBI)

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23/07/2011

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MULTI COMMODITY EXCHANGE CLEARING CORP.LTD.

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NATIONAL SECURITIES DEPOSITORY LTD.

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NATIONAL SPOT EXCHANGE LTD.

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NATIONAL STOCK EXCHANGE OF INDIA LTD.

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NSE CLEARING LTD.

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SECURITIES AND EXCHANGE BOARD OF INDIA (For only consent orders click here)

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