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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-JUL-2024

PRIVATE 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

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
21
History of entity/person INDUSIND 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.1,00,00,000

29-JUN-2022 		 
22
History of entity/person INDUSIND 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

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.2,00,00,000

27-JUL-2016 		 
23
History of entity/person ING VYSYA 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

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.1,50,00,000

15-JUL-2013 		 
24
History of entity/person ING VYSYA 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

DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) DIRECTIVES/INSTRUCTIONS/GUIDELINES   		IMPOSED PENALTY RS.55,00,000

09-OCT-2012 		 
25
History of entity/person JAMMU & KASHMIR BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) NORMS AND FRAUDS

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   		IMPOSED PENALTY RS.3,00,00,000

05-NOV-2018 		 
26
History of entity/person JAMMU & KASHMIR BANK LTD.,THE
  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.2,50,10,000

15-JUL-2013 		 
27
History of entity/person KOTAK MAHINDRA 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

DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) DIRECTIVES/INSTRUCTIONS/GUIDELINES   		IMPOSED PENALTY RS.20,00,000

04-FEB-2019 		 
28
History of entity/person KOTAK MAHINDRA 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

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.1,50,10,000

15-JUL-2013 		 
29
History of entity/person LAKSHMI VILAS BANK LTD.,THE
  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.2,50,00,000

15-JUL-2013 		 
30
History of entity/person RATNAKAR BANK LTD.,THE
  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.50,00,000

15-JUL-2013 		 
31
History of entity/person RBL 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

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 		 
32
History of entity/person SBI COMMERCIAL & INTERNATIONAL 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

VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON IPO FINANCING   		IMPOSED PENALTY RS.10,00,000

25-APR-2007 		 
33
History of entity/person SOUTH INDIAN BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) NORMS AND FRAUDS

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 TREASURY FUNCTION AND DEFICIENCIES IN ITS COMPLIANCE FUNCTION & COMPLIANCE CULTURE   		IMPOSED PENALTY RS.5,00,00,000

14-MAY-2018 		 
34
History of entity/person TAMILNAD MERCANTILE 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

VIOLATED REGULATIONS OF RBI ON ENSURING END-USE OF BANK'S FUNDS LENT TO BORROWERS   		IMPOSED PENALTY RS.5,00,000

26-APR-2006 		 
35
History of entity/person YES 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

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.2,00,00,000

15-JUL-2013 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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