|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
101
|
|
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
|
|
|
102
|
|
|
RBL BANK LTD.
|
|
|
DID NOT OBTAIN ANNUAL DECLARATION IN FORM B FROM ONE OF MAJOR SHAREHOLDERS
FURNISHED CERTIFICATES TO RBI REGARDING CONTINUANCE OF 'FIT AND PROPER’ STATUS OF ONE OF MAJOR SHAREHOLDER
|
IMPOSED PENALTY RS.64,00,000
28-SEP-2023
|
|
|
103
|
|
|
RBL BANK LTD.
|
|
|
DID NOT COMMUNICATE DECISION OF ITS INTERNAL OMBUDSMAN (IO) PROPERLY
DID NOT ENSURE APPROPRIATE BEHAVIOR OF RECOVERY AGENTS WITH SOME OF DELINQUENT BORROWERS AND DID NOT ENSURE A TAPE RECORDING OF THE CONTENT/TEXT OF THE CALLS MADE BY THE RECOVERY AGENTS
DID NOT ENSURE THAT THE PRE-EMPLOYMENT POLICE VERIFICATION WAS CARRIED OUT FOR RECOVERY AGENTS ENGAGED BY IT
DID NOT ENSURE THAT THE RECOVERY AGENTS ENGAGED BY BANK EITHER DIRECTLY OR THROUGH RECOVERY AGENCIES HAD COMPLETED TRAINING COURSE FOR DIRECT RECOVERY AGENTS AND OBTAINED CERTIFICATE FROM INDIAN INSTITUTE OF BANKING & FINANCE
PERSISTENT/REPEAT COMPLAINTS ABOUT HARASSMENT OF CUSTOMERS DUE TO RECOVERY AND COLLECTION METHODS A ADOPTED BY THE COMPANY
|
IMPOSED PENALTY RS.2,27,25,000
06-MAR-2023
|
|
|
104
|
|
|
RBL BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PAYMENT OF INTEREST ON BALANCE AMOUNTS LYING IN CURRENT ACCOUNTS OF DECEASED INDIVIDUAL DEPOSITORS/SOLE PROPRIETORSHIP CONCERNS WHILE MAKING PAYMENTS TO CLAIMANTS
DID NOT ADHERE TO DIRECTIVES ON COMPOSITION OF BOARD OF DIRECTORS VIOLATING SECTION 10A(2)(B) OF RBI ACT.
|
IMPOSED PENALTY RS.2,00,00,000
27-SEP-2021
|
|
|
105
|
|
|
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
|
|
|
106
|
|
|
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
|
|
|
107
|
|
|
SBM BANK (INDIA) LTD.
|
|
|
ENGAGED BUSINESS CORRESPONDENTS FOR ESTABLISHING ACCOUNT-BASED RELATIONSHIP WITH CUSTOMERS FROM CERTAIN REGIONS, NOT ACCEDED BY RBI
|
IMPOSED PENALTY RS.88,70,000
10-APR-2024
|
|
|
108
|
|
|
SOUTH INDIAN 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
|
|
|
109
|
|
|
SOUTH INDIAN BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON GUARANTEES AND CO-ACCEPTANCES
|
IMPOSED PENALTY RS.10,00,000
13-JUN-2019
|
|
|
110
|
|
|
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
|
|
|
111
|
|
|
SURYODAY SMALL FINANCE LTD.
|
|
|
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.57,75,000
20-JUL-2022
|
|
|
112
|
|
|
TAMILNAD MERCANTILE BANK LTD.
|
|
|
DID NOT BENCHMARK INTEREST ON CERTAIN FLOATING RATE RETAIL LOANS AND FLOATING RATE LOANS TO MSME, TO EXTERNAL BENCHMARK LENDING RATE
ADOPTED MULTIPLE BENCHMARKS WITHIN SAME LOAN CATEGORY
DID NOT PRICE CERTAIN FLOATING RATE LOANS WITH REFERENCE TO ACTUAL BENCHMARK RATE APPLICABLE TO THOSE LOANS
WRONGLY REPORTED EXTERNAL RATING OF CERTAIN BORROWERS TO CENTRAL REPOSITORY OF INFORMATION ON LARGE CREDITS (CRILC)
|
IMPOSED PENALTY RS.1,31,80,000
13-MAR-2024
|
|
|
113
|
|
|
TAMILNAD MERCANTILE BANK LTD.
|
|
|
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.35,00,000
24-OCT-2019
|
|
|
114
|
|
|
TAMILNAD MERCANTILE BANK LTD.
|
|
|
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
|
|
|
115
|
|
|
TAMILNAD MERCANTILE BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON ISSUANCE OF BONUS SHARES TO NON-RESIDENT ENTITIES
|
IMPOSED PENALTY RS.6,00,00,000
19-JUN-2018
|
|
|
116
|
|
|
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
|
|
|
117
|
|
|
UTKARSH SMALL FINANCE BANK LTD.
|
|
|
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
|
|
|
118
|
|
|
YES BANK LTD.
|
|
|
LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCES IN DORMANT/INOPERATIVE SAVING BANK ACCOUNTS AND/OR CURRENT DEPOSIT ACCOUNTS
OPENED AND OPERATED CERTAIN INTERNAL ACCOUNTS IN THE NAME OF ITS CUSTOMERS FOR UNAUTHORIZED PURPOSES LIKE PARKING FUNDS AND ROUTING CUSTOMER TRANSACTIONS
|
IMPOSED PENALTY RS.91,00,000
17-MAY-2024
|
|
|
119
|
|
|
YES BANK LTD.
|
|
|
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
|
|
|
120
|
|
|
YES BANK LTD.
|
|
|
DID NOT ADHERE TO VARIOUS REGULATIONS OF RBI IN ASSESSMENT OF NON-PERFORMING ASSETS (NPAS)
DID NOT REPORT TO RBI ABOUT CYBER-SECURITY INCIDENT INVOLVING ATMS OF THE BANK WITHIN PRESCRIBED TIMEFRAME
|
IMPOSED PENALTY RS.6,00,00,000
23-OCT-2017
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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