|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
81
|
|
KARNATAKA BANK LTD.,THE
|
|
|
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
|
|
|
82
|
|
|
KARNATAKA BANK LTD.,THE
|
|
|
DID NOT ADHERE TO RBI DIRECTIVES ON DERIVATIVES
|
IMPOSED PENALTY RS.5,00,000
09-SEP-2011
|
|
|
83
|
|
|
KARUR VYSYA BANK LTD.,THE
|
|
|
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.30,00,000
21-MAR-2023
|
|
|
84
|
|
|
KARUR VYSYA BANK LTD.,THE
|
|
|
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
|
|
|
85
|
|
|
KARUR VYSYA BANK LTD.,THE
|
|
|
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.1,00,00,000
25-FEB-2019
|
|
|
86
|
|
|
KARUR VYSYA BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN RELATION TO INCOME RECOGNITION, ASSET CLASSIFICATION AND PROVISIONING DIRECTIVES/INSTRUCTIONS/GUIDELINES
DID NOT REPORT FRAUDS TO RBI
DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI FOR OPENING OF CURRENT ACCOUNTS
|
IMPOSED PENALTY RS.5,00,00,000
25-SEP-2018
|
|
|
87
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
DID NOT CARRY OUT ANNUAL REVIEW/DUE DILIGENCE OF SERVICE PROVIDER
DID NOT ENSURE THAT CUSTOMERS ARE NOT CONTACTED AFTER 7 PM AND BEFORE 7 AM
DID NOT PAY INTEREST TO OVERDUE TERM DEPOSITS FROM THE DATE OF MATURITY TILL THE DATE OF REPAYMENT
LEVIED FORECLOSURE CHARGES DESPITE THERE WAS NO CLAUSE IN LOAN AGREEMENT FOR LEVY OF PREPAYMENT PENALTY ON LOANS RECALLED/FORECLOSURE INITIATED BY BANK
|
IMPOSED PENALTY RS.3,95,00,000
17-OCT-2023
|
|
|
88
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON NON-TRANSFER OF UNCLAIMED DEPOSITS TO DEPOSITOR EDUCATION AND AWARENESS FUND UNDER SECTION 26(A) OF BANKING REGULATION, ACT 1949 IBID
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CUSTOMER PROTECTION–LIMITING LIABILITY OF CUSTOMERS IN UNAUTHORISED ELECTRONIC BANKING TRANSACTIONS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LOANS AND ADVANCES–STATUTORY AND OTHER RESTRICTIONS
|
IMPOSED PENALTY RS.1,05,00,000
29-JUN-2022
|
|
|
89
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
DID NOT SUBMIT DETAILS OF SHAREHOLDING OF PROMOTERS & PROPOSED COURSE OF ACTION/PLANS/STRATEGY TO COMPLY WITH PERMITTED TIMELINE FOR DILUTION OF PROMOTER SHAREHOLDING
|
IMPOSED PENALTY RS.2,00,00,000
06-JUN-2019
|
|
|
90
|
|
|
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
|
|
|
91
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
DID NOT ADHERE TO INSTRUCTIONS OF RBI ON REPORTING REQUIREMENTS OF FOREIGN EXCHANGE MANAGEMENT ACT, 1999 (FEMA)
|
IMPOSED PENALTY RS.10,000
26-APR-2017
|
|
|
92
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN MATTER OF DECCAN CHRONICLE HOLDINGS LTD.
|
IMPOSED PENALTY RS.10,00,000
25-JUL-2014
|
|
|
93
|
|
|
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
|
|
|
94
|
|
|
KOTAK MAHINDRA 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
26-APR-2011
|
|
|
95
|
|
|
LAKSHMI VILAS BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) NORMS AND FRAUDS
|
IMPOSED PENALTY RS.1,00,00,000
14-OCT-2019
|
|
|
96
|
|
|
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
|
|
|
97
|
|
|
NAINITAL BANK LTD.,THE
|
|
|
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 “RESERVE BANK OF INDIA (FRAUD CLASSIFICATION AND REPORTING BY COMMERCIAL BANKS AND SELECT FIS) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2016”
|
IMPOSED PENALTY RS.56,00,000
28-OCT-2021
|
|
|
98
|
|
|
NAINITAL BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON FULLY AUTOMATE NPA IDENTIFICATION PROCESS
|
IMPOSED PENALTY RS.1,00,00,000
06-MAY-2019
|
|
|
99
|
|
|
NORTH EAST SMALL FINANCE BANK LTD.
|
|
|
CLASSIFIED BORROWED ACCOUNTS AS NPAS, LEADING TO SIGNIFICANT DIVERGENCE BETWEEN REPORTED AND ASSESSED NPAS
MADE PILLAR 3 DISCLOSURES IN ITS ANNUAL REPORT AND WEBSITE
|
IMPOSED PENALTY RS.39,50,000
30-JAN-2023
|
|
|
100
|
|
|
RATNAKAR BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN MATTER OF DECCAN CHRONICLE HOLDINGS LTD.
|
IMPOSED PENALTY RS.5,00,000
25-JUL-2014
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
|
|
|
|
|
|
Page
5
of
7
|
