|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
1
|
|
AXIS BANK LTD.
|
|
|
ROUTED UNAUTHORISED OR UNRELATED ENTRIES THROUGH CERTAIN INTERNAL/OFFICE ACCOUNTS
|
IMPOSED PENALTY RS.29,60,000 FROM 29-APR-2025
29-APR-2025
|
|
|
2
|
|
|
AXIS BANK LTD.
|
|
|
OPENED SEVERAL SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF INELIGIBLE ENTITIES
ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS
OBTAINED COLLATERAL SECURITY FOR AGRICULTURAL LOANS UPTO RS.1.60 LAC IN CERTAIN CASES
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
|
IMPOSED PENALTY RS.1,91,00,000 FROM 03-SEP-2024
03-SEP-2024
|
|
|
3
|
|
|
AXIS BANK LTD.
|
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRESERVATION OF RECORDS OF IDENTIFICATION OF CUSTOMERS AND/OR THEIR ADDRESSES
MADE PERSISTENT CALLS TO SOME OF THE CUSTOMERS
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 OBTAIN DECLARATIONS FROM CUSTOMERS AT THE TIME OF OPENING OF CURRENT ACCOUNTS
|
IMPOSED PENALTY RS.90,92,000 FROM 02-NOV-2023
02-NOV-2023
|
|
|
4
|
|
|
AXIS BANK LTD.
|
|
|
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
|
IMPOSED PENALTY RS.30,00,000 FROM 22-JUN-2023
22-JUN-2023
|
|
|
5
|
|
|
AXIS BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LOANS AND ADVANCES–STATUTORY AND OTHER RESTRICTIONS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON FINANCIAL SERVICES PROVIDED BY BANKS
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 DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LEVY OF PENAL CHARGES ON NON-MAINTENANCE OF MINIMUM BALANCES IN SAVINGS BANK ACCOUNTS
|
IMPOSED PENALTY RS.93,00,000 FROM 07-APR-2022
07-APR-2022
|
|
|
6
|
|
|
AXIS BANK LTD.
|
|
|
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
|
IMPOSED PENALTY RS.25,00,000 FROM 01-SEP-2021
01-SEP-2021
|
|
|
7
|
|
|
AXIS BANK LTD.
|
|
|
DELAY IN REPORTING CYBER SECURITY INCIDENT
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
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 ISSUED BY RBI ON FINANCIAL SERVICES PROVIDED BY BANKS
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
|
IMPOSED PENALTY RS.5,00,00,000 FROM 28-JUL-2021
28-JUL-2021
|
|
|
8
|
|
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AXIS BANK LTD.
|
|
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DID NOT ADHERE TO DIRECTIVES PERTAINING TO COLLECTION OF THIRD PARTY ACCOUNT PAYEE CHEQUES
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.2,00,00,000 FROM 29-JAN-2019
29-JAN-2019
|
|
|
9
|
|
|
AXIS BANK LTD.
|
|
|
DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DETECTION & IMPOUNDING OF COUNTERFEIT NOTES
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INSTALLATION OF NOTES SORTING MACHINES
|
IMPOSED PENALTY RS.20,00,000 FROM 29-JAN-2019
29-JAN-2019
|
|
|
10
|
|
|
AXIS BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) NORMS AND FRAUDS
|
IMPOSED PENALTY RS.3,00,00,000 FROM 27-FEB-2018
27-FEB-2018
|
|
|
11
|
|
|
AXIS BANK LTD.
|
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN MATTER OF DECCAN CHRONICLE HOLDINGS LTD.
|
IMPOSED PENALTY RS.15,00,000 FROM 25-JUL-2014
25-JUL-2014
|
|
|
12
|
|
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AXIS BANK LTD.
|
|
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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 OBSERVE CERTAIN SAFEGUARDS IN RESPECT OF ARRANGEMENT OF “AT PAR” PAYMENT OF CHEQUES DRAWN BY CO-OPERATIVE BANKS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON KYC COMPLIANCE FOR WALK-IN CUSTOMERS INCLUDING FOR SALE OF THIRD PARTY PRODUCTS
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 OBTAIN PERMANENT ACCOUNT NUMBER (PAN) CARD DETAILS OR FORM 60/61
DID NOT VERIFY SOURCE OF FUNDS CREDITED TO FEW NON-RESIDENT ORDINARY (NRO) ACCOUNTS
DID NOT RE-DESIGNATE FEW ACCOUNTS AS NRO ACCOUNTS
|
IMPOSED PENALTY RS.5,00,10,000 FROM 10-JUN-2013
10-JUN-2013
|
|
|
13
|
|
|
AXIS BANK LTD.
|
|
|
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.15,00,000 FROM 26-APR-2011
26-APR-2011
|
|
|
14
|
|
|
BANDHAN BANK LTD.
|
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON PAYMENT OF REMUNERATION TO EMPLOYEES IN FORM OF COMMISSION
CARRIED OUT MANUAL INTERVENTION THROUGH BACK-END IN RESPECT OF DATA OF CERTAIN ACCOUNTS
DID NOT CAPTURE AUDIT TRAILS/LOGS OF ACCESS WITH SPECIFIC USER DETAILS IN THE SYSTEM
|
IMPOSED PENALTY RS.44,70,000 FROM 26-AUG-2025
26-AUG-2025
|
|
|
15
|
|
|
BANDHAN BANK LTD.
|
|
|
OPENED SEVERAL SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF INELIGIBLE ENTITIES
|
IMPOSED PENALTY RS.29,55,000 FROM 04-MAR-2024
04-MAR-2024
|
|
|
16
|
|
|
BANDHAN BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON REPORTING OF DATA ON CENTRAL REPOSITORY OF INFORMATION ON LARGE CREDITS (CRILC)
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON BANK FINANCE TO NBFCS
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 OPERATING GUIDELINES FOR SMALL FINANCE BANKS
|
IMPOSED PENALTY RS.1,00,00,000 FROM 06-JUL-2021
06-JUL-2021
|
|
|
17
|
|
|
BANDHAN BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PROMOTER HOLDING
|
IMPOSED PENALTY RS.1,00,00,000 FROM 29-OCT-2019
29-OCT-2019
|
|
|
18
|
|
|
BANK OF RAJASTHAN LTD.,THE
|
|
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VIOLATED SUB-SECTION (1) OF SECTION 35A OF BANKING REGULATION ACT, 1949
DELETED RECORDS IN BANK’S IT SYSTEMS
DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) DIRECTIVES/INSTRUCTIONS/GUIDELINES
DID NOT PROVIDE CERTAIN DOCUMENTS SOUGHT BY RBI AND MISREPRESENTED THAT SUCH DOCUMENTS WERE NOT AVAILABLE
IRREGULARITIES IN CONDUCT OF ACCOUNTS OF A CORPORATE GROUP
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
|
IMPOSED PENALTY RS.25,00,000 FROM 25-FEB-2010
25-FEB-2010
|
|
|
19
|
|
|
BAREILLY CORPORATION BANK LTD.
|
|
|
DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1934
|
MERGER WITH ANOTHER BANK FROM 03-JUN-1999
03-JUN-1999
|
|
|
20
|
|
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BAREILLY CORPORATION BANK LTD.
|
|
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DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1934
|
ORDERED OF MORATORIUM FROM 08-MAR-1999 TO 05-JUN-1999
08-MAR-1999
|
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The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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