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S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
1
|
|
BANK OF MAHARASHTRA
|
|
|
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 INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS ON FUNDS RECEIVED THROUGH REAL TIME GROSS SETTLEMENT SYSTEM (RTGS)
DID NOT EXERCISE DUE DILIGENCE IN OPENING OF FIXED DEPOSIT ACCOUNTS & GRANTING OF OVERDRAFTS
WEAKNESSES IN INTERNAL CONTROL SYSTEMS, MANAGEMENT OVERSIGHT AND USED INTERNAL ACCOUNTS FOR PARKING CUSTOMER FUNDS ETC.
MIDDLEMEN/INTERMEDIARIES INVOLVED IN OPENING OF ACCOUNTS AND ALSO SUBSEQUENT OPERATIONS IN THOSE ACCOUNTS
|
IMPOSED PENALTY RS.1,50,00,000
29-APR-2015
|
|
|
2
|
|
|
CORPORATION BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN MATTER OF DECCAN CHRONICLE HOLDINGS LTD.
|
IMPOSED PENALTY RS.10,00,000
25-JUL-2014
|
|
|
3
|
|
|
DCB BANK LTD.
|
|
|
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
|
IMPOSED PENALTY RS.22,00,000
28-OCT-2020
|
|
|
4
|
|
|
DENA BANK
|
|
|
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 INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS ON FUNDS RECEIVED THROUGH REAL TIME GROSS SETTLEMENT SYSTEM (RTGS)
DID NOT EXERCISE DUE DILIGENCE IN OPENING OF FIXED DEPOSIT ACCOUNTS & GRANTING OF OVERDRAFTS
WEAKNESSES IN INTERNAL CONTROL SYSTEMS, MANAGEMENT OVERSIGHT AND USED INTERNAL ACCOUNTS FOR PARKING CUSTOMER FUNDS ETC.
MIDDLEMEN/INTERMEDIARIES INVOLVED IN OPENING OF ACCOUNTS AND ALSO SUBSEQUENT OPERATIONS IN THOSE ACCOUNTS
|
IMPOSED PENALTY RS.1,50,00,000
29-APR-2015
|
|
|
5
|
|
|
GUJARAT OLEO CHEM LTD.
|
|
|
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 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 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
|
IMPOSED PENALTY RS.1,00,00,000
25-FEB-2019
|
|
|
6
|
|
|
GUJARAT OLEO CHEM LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN MATTER OF DECCAN CHRONICLE HOLDINGS LTD.
|
IMPOSED PENALTY RS.15,00,000
25-JUL-2014
|
|
|
7
|
|
|
IDFC BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI PERTAINING TO SANCTION/RENEWAL OF LOANS & ADVANCES
|
IMPOSED PENALTY RS.2,00,00,000
23-OCT-2017
|
|
|
8
|
|
|
ORIENTAL BANK OF COMMERCE
|
|
|
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 INSTRUCTIONS ON FUNDS RECEIVED THROUGH REAL TIME GROSS SETTLEMENT SYSTEM (RTGS)
DID NOT EXERCISE DUE DILIGENCE IN OPENING OF FIXED DEPOSIT ACCOUNTS & GRANTING OF OVERDRAFTS
WEAKNESSES IN INTERNAL CONTROL SYSTEMS, MANAGEMENT OVERSIGHT AND USED INTERNAL ACCOUNTS FOR PARKING CUSTOMER FUNDS ETC.
MIDDLEMEN/INTERMEDIARIES INVOLVED IN OPENING OF ACCOUNTS AND ALSO SUBSEQUENT OPERATIONS IN THOSE ACCOUNTS
|
IMPOSED PENALTY RS.1,50,00,000
29-APR-2015
|
|
|
9
|
|
|
STATE BANK OF INDIA
|
|
|
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
|
IMPOSED PENALTY RS.10,00,000
26-APR-2011
|
|
|
10
|
|
|
STATE BANK OF TRAVANCORE
|
|
|
VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI
|
IMPOSED PENALTY RS.1,00,00,000
04-JAN-2016
|
|
|
11
|
|
|
SYNDICATE BANK
|
|
|
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 DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CHEQUE PURCHASE/DISCOUNTING AND BILL DISCOUNTING ETC.
|
IMPOSED PENALTY RS.5,00,00,000
12-DEC-2017
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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