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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 DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR GOLD LOAN WITH BULLET REPAYMENT OPTION

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CHITTOOR CO-OPERATIVE TOWN BANK LTD.,THE
  DELAY IN TRANSFER OF ELIGIBLE FUNDS TO DEPOSITOR EDUCATION & AWARENESS FUND

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR GOLD LOAN WITH BULLET REPAYMENT OPTION

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

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON COMBATING OF FINANCING OF TERRORISM (CFT)/OBLIGATIONS OF BANKS UNDER PREVENTION OF MONEY LAUNDERING ACT (PMLA), 2002

DID NOT ADHERE TO UNIQUE CUSTOMER IDENTIFICATION CODE (UCIC) RELATED DIRECTIVES/INSTRUCTIONS/GUIDELINES   		IMPOSED PENALTY RS.6,00,000

24-NOV-2022 		 
2
History of entity/person CITY CO-OPERATIVE BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR GOLD LOAN WITH BULLET REPAYMENT OPTION   IMPOSED PENALTY RS.2,00,000

20-OCT-2022 		 
3
History of entity/person HARIJ NAGRIK SAHAKARI BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI U/S 36 (1) OF THE BANKING REGULATIONS ACT, 1949

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

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR GOLD LOAN WITH BULLET REPAYMENT OPTION   		IMPOSED PENALTY RS.3,00,000

31-MAR-2016 		 
4
History of entity/person KERALA STATE CO-OPERATIVE BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR GOLD LOAN WITH BULLET REPAYMENT OPTION   IMPOSED PENALTY RS.48,00,000

03-OCT-2022 		 
5
History of entity/person MYSORE MERCHANTS CO-OPERATIVE BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR GOLD LOAN WITH BULLET REPAYMENT OPTION   IMPOSED PENALTY RS.5,00,000

20-OCT-2022 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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