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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: DID NOT ADHERE TO “KNOW YOUR CUSTOMER” DIRECTIVES/INSTRUCTIONS/GUIDELINES IN OPENING AND/OR OPERATING THE ACCOUNTS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person DHULE & NANDURBAR JILHA SARKARI NOKARANCHI 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

DID NOT ADHERE TO “KNOW YOUR CUSTOMER” DIRECTIVES/INSTRUCTIONS/GUIDELINES IN OPENING AND/OR OPERATING THE ACCOUNTS

DID NOT PLACE APPROPRIATE SYSTEM FOR GENERATING ALERTS FOR IDENTIFICATION OF SUSPICIOUS TRANSACTIONS   		IMPOSED PENALTY RS.1,00,000

27-APR-2023 		 
2
History of entity/person JAMNAGAR DISTRICT CO-OPERATIVE BANK LTD.,THE
  DELAY IN TRANSFER OF ELIGIBLE FUNDS TO DEPOSITOR EDUCATION & AWARENESS FUND

DID NOT ADHERE TO “KNOW YOUR CUSTOMER” DIRECTIVES/INSTRUCTIONS/GUIDELINES IN OPENING AND/OR OPERATING THE ACCOUNTS

DID NOT PLACE APPROPRIATE SYSTEM FOR IDENTIFICATION OF SUSPICIOUS TRANSACTIONS

DID NOT SUBMIT DATA (INCLUDING HISTORIC DATA) TO THREE CREDIT INFORMATION COMPANIES (CICS)   		IMPOSED PENALTY RS.4,10,000

27-APR-2023 		 
3
History of entity/person KANYAKUMARI DISTRICT CENTRAL CO-OPERATIVE BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON NON-TRANSFER OF ELIGIBLE UNCLAIMED DEPOSITS TO DEPOSITOR EDUCATION & AWARENESS FUND WITHIN DUE DATE

ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS

DID NOT ADHERE TO “KNOW YOUR CUSTOMER” DIRECTIVES/INSTRUCTIONS/GUIDELINES IN OPENING AND/OR OPERATING THE ACCOUNTS   		IMPOSED PENALTY RS.7,50,000

18-MAY-2023 		 
4
History of entity/person KHATRA PEOPLE’S CO-OPERATIVE BANK LTD.
  DID NOT ADHERE TO “KNOW YOUR CUSTOMER” DIRECTIVES/INSTRUCTIONS/GUIDELINES IN OPENING AND/OR OPERATING THE ACCOUNTS   IMPOSED PENALTY RS.5,000

30-JUN-2023 		 
5
History of entity/person SAHAYADRI SAHAKARI BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRANSFER OF ELIGIBLE FUNDS TO DEPOSITOR EDUCATION AND AWARENESS FUND

OFFERED INTEREST RATES ON DEPOSITS FOR VARIOUS DURATIONS HIGHER THAN THAT OFFERED BY STATE BANK OF INDIA IN NON-COMPLIANCE WITH THE SAF DIRECTIONS

DID NOT ADHERE TO “KNOW YOUR CUSTOMER” DIRECTIVES/INSTRUCTIONS/GUIDELINES IN OPENING AND/OR OPERATING THE ACCOUNTS

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

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS   		IMPOSED PENALTY RS.6,00,000

15-SEP-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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