|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
21
|
|
BANK OF BARODA
|
|
|
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 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 ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER ACCOUNTS
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 WHICH PROHIBITS ACCEPTANCE OF CASH ABOVE RS.50, 000 FOR SALE OF GOLD COINS AND ISSUE OF DEMAND DRAFTS ETC.
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 ON IMPORT OF GOLD ON CONSIGNMENT BASIS
|
IMPOSED PENALTY RS.3,00,00,000
15-JUL-2013
|
|
|
22
|
|
|
BANK OF BARODA
|
|
|
NETTED THE ITEMS REPRESENTING INTERNAL AND EXTERNAL LIABILITIES IN INTER-BRANCH ACCOUNTS,RESULTING IN UNDER-ESTIMATION OF OUTSIDE LIABILITIES
|
IMPOSED PENALTY RS.5,00,000
30-MAY-2006
|
|
|
23
|
|
|
BANK OF INDIA
|
|
|
DID NOT PAY INTEREST RATES STRICTLY AS PER SCHEDULE OF INTEREST RATES DISCLOSED IN ADVANCE IN SEVERAL TERM DEPOSIT ACCOUNTS
LEVIED SMS ALERT CHARGES FROM CUSTOMERS BASED ON INVALID MOBILE NUMBERS AND NOT ON ACTUAL USAGE BASIS
DID NOT RESET INTEREST RATES IN MCLR AND EXTERNAL BENCHMARK LINKED ADVANCES AT PRESCRIBED PERIODICITY
DID NOT BENCHMARK INTEREST ON CERTAIN FLOATING RATE RETAIL LOANS AND FLOATING RATE LOANS TO MSME, TO EXTERNAL BENCHMARK LENDING RATE
DID NOT REPORT AND/OR INACCURATELY REPORT DATA PERTAINING TO CERTAIN LARGE BORROWERS TO CRILC
DID NOT FURNISH ACCURATE INFORMATION TO CREDIT INFORMATION COMPANIES (CICS)
|
IMPOSED PENALTY RS.1,40,76,000
26-FEB-2024
|
|
|
24
|
|
|
BANK OF INDIA
|
|
|
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 CIRCULAR INSTRUCTIONS ON COMPLIANCE FUNCTION IN BANKS
|
IMPOSED PENALTY RS.70,00,000
07-JUL-2022
|
|
|
25
|
|
|
BANK OF INDIA
|
|
|
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 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 OF RBI ON DEPOSITOR EDUCATION AND AWARENESS FUND SCHEME, 2014
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.4,00,00,000
07-JUN-2021
|
|
|
26
|
|
|
BANK OF INDIA
|
|
|
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 DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.5,00,00,000
27-FEB-2020
|
|
|
27
|
|
|
BANK OF INDIA
|
|
|
DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT 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 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
|
IMPOSED PENALTY RS.1,50,00,000
31-JUL-2019
|
|
|
28
|
|
|
BANK OF INDIA
|
|
|
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 EXCHANGE OF INFORMATION WITH OTHER BANKS
DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON RESTRUCTURING OF ACCOUNTS
|
IMPOSED PENALTY RS.1,00,00,000
31-JAN-2019
|
|
|
29
|
|
|
BANK OF INDIA
|
|
|
DELAYED REPORTING OF FRAUD IN CERTAIN ACCOUNTS
|
IMPOSED PENALTY RS.1,00,00,000
30-AUG-2018
|
|
|
30
|
|
|
BANK OF INDIA
|
|
|
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 RISK CATEGORIZATION OF ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS TO FILE STRS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF FEMA
|
IMPOSED PENALTY RS.1,00,00,000
27-JUL-2016
|
|
|
31
|
|
|
BANK OF INDIA
|
|
|
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 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 ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER ACCOUNTS
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 WHICH PROHIBITS ACCEPTANCE OF CASH ABOVE RS.50, 000 FOR SALE OF GOLD COINS AND ISSUE OF DEMAND DRAFTS ETC.
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 ON IMPORT OF GOLD ON CONSIGNMENT BASIS
|
IMPOSED PENALTY RS.3,00,00,000
15-JUL-2013
|
|
|
32
|
|
|
BANK OF MAHARASHTRA
|
|
|
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
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
|
IMPOSED PENALTY RS.1,45,00,000
22-JUN-2023
|
|
|
33
|
|
|
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 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 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
|
IMPOSED PENALTY RS.1,12,00,000
18-APR-2022
|
|
|
34
|
|
|
BANK OF MAHARASHTRA
|
|
|
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 LENDING TO NBFCS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON BANK FINANCE 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
06-JUL-2021
|
|
|
35
|
|
|
BANK OF MAHARASHTRA
|
|
|
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 ISSUED BY RBI TO CONCURRENT AUDIT SYSTEM IN COMMERCIAL BANK
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
|
IMPOSED PENALTY RS.2,00,00,000
25-FEB-2021
|
|
|
36
|
|
|
BANK OF MAHARASHTRA
|
|
|
DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT 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 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
|
IMPOSED PENALTY RS.2,00,00,000
31-JUL-2019
|
|
|
37
|
|
|
BANK OF MAHARASHTRA
|
|
|
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.2,00,00,000
25-FEB-2019
|
|
|
38
|
|
|
BANK OF MAHARASHTRA
|
|
|
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 EXCHANGE OF INFORMATION WITH OTHER BANKS
DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON RESTRUCTURING OF ACCOUNTS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.1,50,00,000
31-JAN-2019
|
|
|
39
|
|
|
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 DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.1,00,00,000
04-JAN-2019
|
|
|
40
|
|
|
BANK OF MAHARASHTRA
|
|
|
DELAYED DETECTING & REPORTING OF FRAUD IN ACCOUNTS
|
IMPOSED PENALTY RS.1,00,00,000
30-AUG-2018
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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