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Co-Sponsors

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 ON PAYMENT OF INTEREST ON BALANCE AMOUNTS LYING IN CURRENT ACCOUNTS OF DECEASED INDIVIDUAL DEPOSITORS/SOLE PROPRIETORSHIP CONCERNS WHILE MAKING PAYMENTS TO CLAIMANTS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person JALGAON PEOPLES CO-OPERATIVE BANK LTD.
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) NORMS AND FRAUDS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON MAINTENANCE OF DEPOSIT ACCOUNTS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PAYMENT OF INTEREST ON BALANCE AMOUNTS LYING IN CURRENT ACCOUNTS OF DECEASED INDIVIDUAL DEPOSITORS/SOLE PROPRIETORSHIP CONCERNS WHILE MAKING PAYMENTS TO CLAIMANTS   		IMPOSED PENALTY RS.50,00,000

20-SEP-2022 		 
2
History of entity/person JANATA SAHAKARI BANK LTD.,PUNE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PAYMENT OF INTEREST ON BALANCE AMOUNTS LYING IN CURRENT ACCOUNTS OF DECEASED INDIVIDUAL DEPOSITORS/SOLE PROPRIETORSHIP CONCERNS WHILE MAKING PAYMENTS TO CLAIMANTS   IMPOSED PENALTY RS.13,00,000

13-APR-2023 		 
3
History of entity/person RAJARAMBAPU SAHAKARI BANK LTD.
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CUSTOMER PROTECTION–LIMITING LIABILITY OF CUSTOMERS IN UNAUTHORISED ELECTRONIC BANKING TRANSACTIONS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PAYMENT OF INTEREST ON BALANCE AMOUNTS LYING IN CURRENT ACCOUNTS OF DECEASED INDIVIDUAL DEPOSITORS/SOLE PROPRIETORSHIP CONCERNS WHILE MAKING PAYMENTS TO CLAIMANTS   		IMPOSED PENALTY RS.28,00,000

26-SEP-2022 		 
4
History of entity/person RAJGURUNAGAR SAHAKARI BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PAYMENT OF INTEREST ON BALANCE AMOUNTS LYING IN CURRENT ACCOUNTS OF DECEASED INDIVIDUAL DEPOSITORS/SOLE PROPRIETORSHIP CONCERNS WHILE MAKING PAYMENTS TO CLAIMANTS   IMPOSED PENALTY RS.4,00,000

14-OCT-2022 		 
5
History of entity/person ZOROASTRIAN CO-OPERATIVE BANK LTD.
  LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PAYMENT OF INTEREST ON BALANCE AMOUNTS LYING IN CURRENT ACCOUNTS OF DECEASED INDIVIDUAL DEPOSITORS/SOLE PROPRIETORSHIP CONCERNS WHILE MAKING PAYMENTS TO CLAIMANTS

DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD   		IMPOSED PENALTY RS.43,30,000

06-FEB-2024 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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