|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
61
|
|
CORPORATION BANK
|
|
|
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.2,00,00,000
31-JAN-2019
|
|
|
62
|
|
|
CORPORATION 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 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
|
|
|
63
|
|
|
CORPORATION 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 DIRECTIVES/INSTRUCTIONS/GUIDELINES ON KYC COMPLIANCE FOR WALK-IN CUSTOMERS INCLUDING FOR SALE OF THIRD PARTY PRODUCTS
DID NOT SUBMIT CTR/STR IN RESPECT OF CASH TRANSACTIONS IN EXCESS OF RS.10 LAKH
DID NOT ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER 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 IMPORT OF GOLD ON CONSIGNMENT BASIS
DID NOT ADHERE TO INSTRUCTIONS ON PERMITTED CREDITS TO NON-RESIDENT ACCOUNTS
|
IMPOSED PENALTY RS.1,50,00,000
23-AUG-2013
|
|
|
64
|
|
|
DENA BANK
|
|
|
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
|
|
|
65
|
|
|
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 DIRECTIVES/INSTRUCTIONS/GUIDELINES ON KYC COMPLIANCE FOR WALK-IN CUSTOMERS INCLUDING FOR SALE OF THIRD PARTY PRODUCTS
DID NOT SUBMIT CTR/STR IN RESPECT OF CASH TRANSACTIONS IN EXCESS OF RS.10 LAKH
DID NOT ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER 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 IMPORT OF GOLD ON CONSIGNMENT BASIS
DID NOT ADHERE TO INSTRUCTIONS ON PERMITTED CREDITS TO NON-RESIDENT ACCOUNTS
|
IMPOSED PENALTY RS.2,00,00,000
23-AUG-2013
|
|
|
66
|
|
|
GUJARAT OLEO CHEM 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
|
|
|
67
|
|
|
GUJARAT OLEO CHEM 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 SUBMIT CTR/STR IN RESPECT OF CASH TRANSACTIONS IN EXCESS OF RS.10 LAKH
DID NOT ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER 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 IMPORT OF GOLD ON CONSIGNMENT BASIS
DID NOT ADHERE TO INSTRUCTIONS ON PERMITTED CREDITS TO NON-RESIDENT ACCOUNTS
|
IMPOSED PENALTY RS.1,00,00,000
23-AUG-2013
|
|
|
68
|
|
|
INDIAN BANK
|
|
|
DID NOT MONITOR PAYOUT TRANSACTIONS AND CARRY OUT RISK PROFILING OF ENTITIES AVAILING PAYOUT SERVICES
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 CONSTITUTE CUSTOMER SERVICE COMMITTEE OF BOARD, PUT IN PLACE A CUSTOMER GRIEVANCE REDRESSAL POLICY DULY APPROVED BY THE AND MAINTAIN ANY REGISTER FOR COMPLAINTS FROM CUSTOMERS/CONSTITUENTS IN ITS BRANCHES
|
IMPOSED PENALTY RS.1,62,00,000
21-SEP-2023
|
|
|
69
|
|
|
INDIAN 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
|
IMPOSED PENALTY RS.55,00,000
06-APR-2023
|
|
|
70
|
|
|
INDIAN BANK
|
|
|
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”
|
IMPOSED PENALTY RS.32,00,000
03-AUG-2022
|
|
|
71
|
|
|
INDIAN BANK
|
|
|
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
|
|
|
72
|
|
|
INDIAN BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON WINDOW-DRESSING OF BALANCE SHEET CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.1,00,00,000
18-NOV-2019
|
|
|
73
|
|
|
INDIAN BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON OPENING OF SAVINGS BANK ACCOUNTS
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.75,00,000
18-NOV-2019
|
|
|
74
|
|
|
INDIAN BANK
|
|
|
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.4,00,00,000
25-FEB-2019
|
|
|
75
|
|
|
INDIAN BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.1,00,00,000
30-NOV-2018
|
|
|
76
|
|
|
INDIAN 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 DIRECTIVES/INSTRUCTIONS/GUIDELINES ON KYC COMPLIANCE FOR WALK-IN CUSTOMERS INCLUDING FOR SALE OF THIRD PARTY PRODUCTS
DID NOT SUBMIT CTR/STR IN RESPECT OF CASH TRANSACTIONS IN EXCESS OF RS.10 LAKH
DID NOT ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER 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 IMPORT OF GOLD ON CONSIGNMENT BASIS
DID NOT ADHERE TO INSTRUCTIONS ON PERMITTED CREDITS TO NON-RESIDENT ACCOUNTS
|
IMPOSED PENALTY RS.1,00,00,000
23-AUG-2013
|
|
|
77
|
|
|
INDIAN OVERSEAS BANK
|
|
|
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
EXTENDED TERM LOANS TO A CORPORATION (A) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS ARE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS (B) FAILED TO ENSURE THAT THE REPAYMENT/SERVICINGOF THE TERM LOANS WAS NOT MADE OUT OF BUDGETARY RESOURCES
|
IMPOSED PENALTY RS.1,00,00,000
31-OCT-2023
|
|
|
78
|
|
|
INDIAN OVERSEAS BANK
|
|
|
VIOLATED BANKING REGULATION ACT, 1949
CLASSIFIED BORROWED ACCOUNTS AS NPAS, LEADING TO SIGNIFICANT DIVERGENCE BETWEEN REPORTED AND ASSESSED NPAS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON SYSTEMICALLY IMPORTANT NON-DEPOSIT TAKING COMPANY AND DEPOSIT TAKING COMPANY RESERVE BANK OF INDIA DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2016
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.2,20,00,000
29-MAY-2023
|
|
|
79
|
|
|
INDIAN OVERSEAS BANK
|
|
|
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 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 EXTERNAL BENCHMARK BASED LENDING
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRUDENTIAL FRAMEWORK FOR RESOLUTION OF STRESSED ASSETS
|
IMPOSED PENALTY RS.57,50,000
24-JUN-2022
|
|
|
80
|
|
|
INDIAN OVERSEAS BANK
|
|
|
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
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
|
|
|
|
|
|
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