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S.No.
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ENTITY |
PERSONS |
REGULATORY CHARGES
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REGULATORY ACTION(S) / DATE OF ORDER
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FURTHER DEVELOPMENTS
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1
|
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BANK OF BARODA
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DELAY IN REPORTING OF CREDIT INFORMATION PERTAINING TO CERTAIN ELIGIBLE LOAN ACCOUNTS TO CRILC REPORTING PLATFORM OF RBI
SANCTIONED TERM LOAN TO A CORPORATION (I) IN LIEU OF OR TO SUBSTITUTE BUDGETARY RESOURCES ENVISAGED FOR CERTAIN PROJECTS (II) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS WERE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS AND (III) THE REPAYMENT/SERVICING OF WHICH WAS MADE OUT OF BUDGETARY RESOURCES
SANCTIONED WORKING CAPITAL DEMAND LOAN TO A CORPORATION AGAINST AMOUNTS RECEIVABLE FROM GOVERNMENT BY WAY OF SUBSIDIES/REFUNDS/REIMBURSEMENTS
OPENED SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF CO-OPERATIVE BANK
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IMPOSED PENALTY RS.4,34,00,000
02-NOV-2023
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2
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BANK OF MAHARASHTRA
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SANCTIONED TERM LOAN TO A CORPORATION (I) IN LIEU OF OR TO SUBSTITUTE BUDGETARY RESOURCES ENVISAGED FOR CERTAIN PROJECTS (II) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS WERE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS AND (III) THE REPAYMENT/SERVICING OF WHICH WAS MADE OUT OF BUDGETARY RESOURCES
DID NOT IMPLEMENT CONTROL MEASURES FOR ATMS RELATING TO END TO END ENCRYPTION OF COMMUNICATION BETWEEN ATM TERMINAL/PC AND ATM SWITCH, WITHIN THE TIMELINES PRESCRIBED
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IMPOSED PENALTY RS.1,45,00,000
22-JUN-2023
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3
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INDIAN BANK
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DID NOT MONITOR PAYOUT TRANSACTIONS AND CARRY OUT RISK PROFILING OF ENTITIES AVAILING PAYOUT SERVICES
SANCTIONED TERM LOAN TO A CORPORATION (I) IN LIEU OF OR TO SUBSTITUTE BUDGETARY RESOURCES ENVISAGED FOR CERTAIN PROJECTS (II) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS WERE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS AND (III) THE REPAYMENT/SERVICING OF WHICH WAS MADE OUT OF BUDGETARY RESOURCES
DID NOT CONSTITUTE CUSTOMER SERVICE COMMITTEE OF BOARD, PUT IN PLACE A CUSTOMER GRIEVANCE REDRESSAL POLICY DULY APPROVED BY THE AND MAINTAIN ANY REGISTER FOR COMPLAINTS FROM CUSTOMERS/CONSTITUENTS IN ITS BRANCHES
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IMPOSED PENALTY RS.1,62,00,000
21-SEP-2023
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4
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INDIAN OVERSEAS BANK
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SANCTIONED TERM LOAN TO A CORPORATION (I) IN LIEU OF OR TO SUBSTITUTE BUDGETARY RESOURCES ENVISAGED FOR CERTAIN PROJECTS (II) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS WERE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS AND (III) THE REPAYMENT/SERVICING OF WHICH WAS MADE OUT OF BUDGETARY RESOURCES
EXTENDED TERM LOANS TO A CORPORATION (A) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS ARE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS (B) FAILED TO ENSURE THAT THE REPAYMENT/SERVICINGOF THE TERM LOANS WAS NOT MADE OUT OF BUDGETARY RESOURCES
|
IMPOSED PENALTY RS.1,00,00,000
31-OCT-2023
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5
|
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PUNJAB & SIND BANK
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SANCTIONED TERM LOAN TO A CORPORATION (I) IN LIEU OF OR TO SUBSTITUTE BUDGETARY RESOURCES ENVISAGED FOR CERTAIN PROJECTS (II) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS WERE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS AND (III) THE REPAYMENT/SERVICING OF WHICH WAS MADE OUT OF BUDGETARY RESOURCES
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IMPOSED PENALTY RS.1,00,00,000
03-JAN-2024
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6
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STATE BANK OF INDIA
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SANCTIONED TERM LOAN TO A CORPORATION (I) IN LIEU OF OR TO SUBSTITUTE BUDGETARY RESOURCES ENVISAGED FOR CERTAIN PROJECTS (II) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS WERE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS AND (III) THE REPAYMENT/SERVICING OF WHICH WAS MADE OUT OF BUDGETARY RESOURCES
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INTRA-GROUP EXPOSURE LIMIT AND DID NOT CONSIDER INTRA-DAY LIMIT SANCTIONED TO GROUP ENTITY FOR PURPOSE OF COMPUTING INTRA-GROUP EXPOSURE LIMIT
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IMPOSED PENALTY RS.1,30,00,000
21-SEP-2023
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7
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UNION BANK OF INDIA
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SANCTIONED TERM LOAN TO A CORPORATION (I) IN LIEU OF OR TO SUBSTITUTE BUDGETARY RESOURCES ENVISAGED FOR CERTAIN PROJECTS (II) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS WERE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS AND (III) THE REPAYMENT/SERVICING OF WHICH WAS MADE OUT OF BUDGETARY RESOURCES
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IMPOSED PENALTY RS.1,00,00,000
03-OCT-2023
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The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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