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SOURCE OF INFORMATION : MINISTRY OF FINANCE - FINANCIAL INTELLIGENCE UNIT
PERIOD COVERED : 14-FEB-2013 TO 30-JUN-2024

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

COMPANIES: DIRECTED TO ENSURE SUITABLE TRAINING IN AML/CFT FOR THE CONCERNED STAFF

S.No. ENTITY DIRECTORS/ PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person BALASORE URBAN CO-OPERATIVE BANK LTD.,THE  
  DID NOT FOLLOW KYC GUIDELINES AND SUBMISSION OF REPORT IN PROCEDURE AND MANNER PRESCRIBED UNDER PML (MAINTENANCE OF RECORDS) RULES, 2005   IMPOSED FINE RS.25,000

DIRECTED TO ENSURE SUITABLE TRAINING IN AML/CFT FOR THE CONCERNED STAFF RS.25,000

09-FEB-2024 		 
2
History of entity/person PATAN CO-OPERATIVE BANK LTD.  
  DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)

DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS   		IMPOSED FINE RS.25,000

DIRECTED TO ENSURE SUITABLE TRAINING IN AML/CFT FOR THE CONCERNED STAFF RS.25,000

13-SEP-2023 		 
3
History of entity/person RANI LAXMIBAI URBAN CO-OPERATIVE BANK LTD.  
  DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)   IMPOSED FINE RS.1,00,000

DIRECTED TO ENSURE SUITABLE TRAINING IN AML/CFT FOR THE CONCERNED STAFF RS.1,00,000

12-SEP-2023 		 
4
History of entity/person SATANA MERCHANTS' CO-OPERATIVE BANK LTD.  
  DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)

DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS   		IMPOSED FINE RS.25,000

DIRECTED TO ENSURE SUITABLE TRAINING IN AML/CFT FOR THE CONCERNED STAFF RS.25,000

18-SEP-2023 		 
5
History of entity/person STERLING URBAN CO-OPERATIVE BANK LTD.  
  DID NOT FILE COUNTERFEIT CURRENCY REPORT (CCRS)

DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT ALL CASH TRANSACTIONS WHERE FORGED OR COUNTERFEIT CURRENCY NOTES OR BANK NOTES WERE USED AS GENUINE VIOLATING SECTIONS 12(1) (A) AND (B) READ WITH RULES 3(1) (C), 7(2), 7(3) AND 8(1) OF PML (MAINTENANCE OF RECORDS) RULES, 2005   		IMPOSED FINE RS.50,000

DIRECTED TO ENSURE SUITABLE TRAINING IN AML/CFT FOR THE CONCERNED STAFF RS.50,000

14-SEP-2023 		 
6
History of entity/person UTKAL CO-OPERATIVE BANK LTD.,THE  
  DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)

DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)   		IMPOSED FINE RS.1,00,000

DIRECTED TO ENSURE SUITABLE TRAINING IN AML/CFT FOR THE CONCERNED STAFF RS.1,00,000

09-FEB-2024 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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