|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
41
|
|
FEDERAL 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.3,00,00,000 FROM 15-JUL-2013
15-JUL-2013
|
|
|
42
|
|
|
GUJARAT OLEO CHEM 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 09-APR-2018
09-APR-2018
|
|
|
43
|
|
|
HDFC BANK LTD.
|
|
|
ADOPTED MULTIPLE BENCHMARKS WITHIN SAME LOAN CATEGORY
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
OUTSOURCED DECISION-MAKING FUNCTIONS OF DETERMINING COMPLIANCE WITH KYC (KNOW YOUR CUSTOMER) NORMS TO CERTAIN OUTSOURCED AGENTS
|
IMPOSED PENALTY RS.91,00,000 FROM 18-NOV-2025
18-NOV-2025
|
|
|
44
|
|
|
HDFC BANK LTD.
|
|
|
GRANTED TERM LOAN TO ITS CLIENT VIOLATING RBI MASTER DIRECTION - FOREIGN INVESTMENT IN INDIA DATED 04/01/2018
|
IMPOSED PENALTY RS.4,88,000 FROM 11-JUL-2025
11-JUL-2025
|
|
|
45
|
|
|
HDFC BANK LTD.
|
|
|
DID NOT CATEGORIZE CUSTOMERS AS LOW, MEDIUM OR HIGH RISK CATEGORY
ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS
|
IMPOSED PENALTY RS.75,00,000 FROM 24-MAR-2025
24-MAR-2025
|
|
|
46
|
|
|
HDFC BANK LTD.
|
|
|
GAVE GIFTS (IN THE FORM OF PAYING FIRST-YEAR PREMIUM FOR COMPLIMENTARY LIFE INSURANCE COVER) COSTING MORE THAN RS.250 TO THE DEPOSITORS AT THE TIME OF ACCEPTING CERTAIN DEPOSITS
OPENED SEVERAL SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF INELIGIBLE ENTITIES
DID NOT ENSURE THAT CUSTOMERS ARE NOT CONTACTED AFTER 7 PM AND BEFORE 7 AM
|
IMPOSED PENALTY RS.1,00,00,000 FROM 03-SEP-2024
03-SEP-2024
|
|
|
47
|
|
|
HDFC BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON ACCEPTANCE OF DEPOSITS FROM NON-RESIDENTS
|
IMPOSED PENALTY RS.10,000 FROM 30-NOV-2023
30-NOV-2023
|
|
|
48
|
|
|
HDFC BANK LTD.
|
|
|
DEFICIENCIES IN REGULATORY COMPLIANCE
|
IMPOSED PENALTY RS.10,00,00,000 FROM 27-MAY-2021
27-MAY-2021
|
|
|
49
|
|
|
HDFC 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 FROM 29-JAN-2020
29-JAN-2020
|
|
|
50
|
|
|
HDFC 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
DID NOT REPORT FRAUDS TO RBI
|
IMPOSED PENALTY RS.1,00,00,000 FROM 13-JUN-2019
13-JUN-2019
|
|
|
51
|
|
|
HDFC 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 FROM 04-FEB-2019
04-FEB-2019
|
|
|
52
|
|
|
HDFC 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 FROM 27-JUL-2016
27-JUL-2016
|
|
|
53
|
|
|
HDFC BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN MATTER OF DECCAN CHRONICLE HOLDINGS LTD.
|
IMPOSED PENALTY RS.5,00,000 FROM 25-JUL-2014
25-JUL-2014
|
|
|
54
|
|
|
HDFC 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 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 OR EQUIVALENT E-DOCUMENT THEREOF OR FORM NO.60 IN CERTAIN LOAN ACCOUNTS
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.4,50,00,000 FROM 10-JUN-2013
10-JUN-2013
|
|
|
55
|
|
|
HDFC 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
|
|
|
56
|
|
|
ICICI BANK LTD.
|
|
|
DID NOT CARRY OUT VALUATION OF PROPERTIES BY INDEPENDENT VALUERS IN CERTAIN MORTGAGE LOANS
OPENED/MAINTAINED CERTAIN CURRENT ACCOUNTS IN CONTRAVENTION OF REGULATORY REQUIREMENTS
|
IMPOSED PENALTY RS.75,00,000 FROM 07-AUG-2025
07-AUG-2025
|
|
|
57
|
|
|
ICICI BANK LTD.
|
|
|
DELAY IN REPORTING CYBER SECURITY INCIDENT
DID NOT PUT INTO USE A ROBUST SOFTWARE FOR THROWING ALERTS FOR CERTAIN CATEGORIES OF ACCOUNTS
LEVIED LATE PAYMENT CHARGES WITHOUT SENDING CREDIT CARD BILLS/STATEMENTS TO CERTAIN CUSTOMERS
|
IMPOSED PENALTY RS.97,80,000 FROM 29-APR-2025
29-APR-2025
|
|
|
58
|
|
|
ICICI BANK LTD.
|
|
|
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 (III) THE REPAYMENT/SERVICING OF WHICH WAS MADE OUT OF BUDGETARY RESOURCES AND IV) WITHOUT ENSURING THAT THE FUNDING PROPOSALS WERE FOR SPECIFIC MONITORABLE PROJECTS
|
IMPOSED PENALTY RS.1,00,00,000 FROM 21-MAY-2024
21-MAY-2024
|
|
|
59
|
|
|
ICICI BANK LTD.
|
|
|
SANCTIONED LOAN TO A RELATIVE OF ONE OF ITS DIRECTORS
MARKETED AND ENGAGED IN SALE OF NON-FINANCIAL PRODUCT
DID NOT REPORT FRAUDS TO RBI
|
IMPOSED PENALTY RS.12,19,00,000 FROM 17-OCT-2023
17-OCT-2023
|
|
|
60
|
|
|
ICICI BANK LTD.
|
|
|
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.30,00,000 FROM 13-DEC-2021
13-DEC-2021
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
|
|
|
|
|
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