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

CO-OPERATIVE BANKS: COLLECTED FIX PENALTY FOR SHORTFALL IN MAINTENANCE OF MINIMUM BALANCE IN SAVING BANK ACCOUNTS INSTEAD OF PROPORTIONATE TO THE EXTENT OF SHORTFALL

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person ANNASAHEB MAGAR SAHAKARI BANK LTD.
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS

COLLECTED FIX PENALTY FOR SHORTFALL IN MAINTENANCE OF MINIMUM BALANCE IN SAVING BANK ACCOUNTS INSTEAD OF PROPORTIONATE TO THE EXTENT OF SHORTFALL

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN RELATION TO INCOME RECOGNITION, ASSET CLASSIFICATION AND PROVISIONING DIRECTIVES/INSTRUCTIONS/GUIDELINES   		IMPOSED PENALTY RS.4,00,000

15-SEP-2023 		 
2
History of entity/person CHEMBUR NAGARIK SAHAKARI BANK LTD.,THE
  COLLECTED FIX PENALTY FOR SHORTFALL IN MAINTENANCE OF MINIMUM BALANCE IN SAVING BANK ACCOUNTS INSTEAD OF PROPORTIONATE TO THE EXTENT OF SHORTFALL

LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS AND PROVIDING THEM WITH ONE MONTH NOTICE FOR RESTORATION OF MINIMUM BALANCES   		IMPOSED PENALTY RS.1,00,000

20-NOV-2023 		 
3
History of entity/person GREATER BOMBAY CO-OPERATIVE BANK LTD.,THE
  COLLECTED FIX PENALTY FOR SHORTFALL IN MAINTENANCE OF MINIMUM BALANCE IN SAVING BANK ACCOUNTS INSTEAD OF PROPORTIONATE TO THE EXTENT OF SHORTFALL   IMPOSED PENALTY RS.25,00,000

22-MAY-2024 		 
4
History of entity/person RAJARSHI SHAHU SAHAKARI BANK LTD.
  COLLECTED FIX PENALTY FOR SHORTFALL IN MAINTENANCE OF MINIMUM BALANCE IN SAVING BANK ACCOUNTS INSTEAD OF PROPORTIONATE TO THE EXTENT OF SHORTFALL

LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS   		IMPOSED PENALTY RS.1,00,000

16-NOV-2023 		 
5
History of entity/person SANMITRA SAHAKARI BANK LTD.
  COLLECTED FIX PENALTY FOR SHORTFALL IN MAINTENANCE OF MINIMUM BALANCE IN SAVING BANK ACCOUNTS INSTEAD OF PROPORTIONATE TO THE EXTENT OF SHORTFALL   IMPOSED PENALTY RS.1,00,000

24-NOV-2023 		 
6
History of entity/person SHREE WARANA SAHAKARI BANK LTD.
  COLLECTED FIX PENALTY FOR SHORTFALL IN MAINTENANCE OF MINIMUM BALANCE IN SAVING BANK ACCOUNTS INSTEAD OF PROPORTIONATE TO THE EXTENT OF SHORTFALL   IMPOSED PENALTY RS.1,00,000

22-AUG-2023 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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