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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 OF RBI BY ALLOWING CASH WITHDRAWAL OF RS.20 LAKH AFTER BANKING HOURS WITHOUT APPROVAL OF BOARD OF DIRECTORS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person GUJARAT MERCANTILE CO-OPERATIVE BANK LTD.
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI BY ALLOWING CASH WITHDRAWAL OF RS.20 LAKH AFTER BANKING HOURS WITHOUT APPROVAL OF BOARD OF DIRECTORS

DID NOT REPORT CASH TRANSACTIONS REPORTS (CTR) TO FINANCIAL INTELLIGENCE UNIT-INDIA (FIU-IND)   		IMPOSED PENALTY RS.5,00,000

16-JUL-2015 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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