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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 THE CEILING AS PRESCRIBED BY RBI ON DONATION

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person COMMERCIAL CO-OPERATIVE BANK LTD.,THE
  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 THE CEILING AS PRESCRIBED BY RBI ON DONATION

DID NOT DISPLAY ITS NAME PROPERLY IN ITS STATIONERY AND ADVERTISEMENTS   		IMPOSED PENALTY RS.2,00,000

24-MAY-2011 		 
2
History of entity/person DAHOD MERCANTILE CO-OPERATIVE BANK LTD.,THE
  DID NOT ADHERE TO THE CEILING AS PRESCRIBED BY RBI ON DONATION   IMPOSED PENALTY RS.1,00,000

20-SEP-2012 		 
3
History of entity/person RANDHEJA COMMERCIAL CO-OPERATIVE BANK LTD.,THE
  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 THE CEILING AS PRESCRIBED BY RBI ON DONATION   		IMPOSED PENALTY RS.1,00,000

09-MAY-2011 		 
4
History of entity/person SARVODAYA SAHAKARI BANK LTD., THE
  DID NOT ADHERE TO THE CEILING AS PRESCRIBED BY RBI ON DONATION   IMPOSED PENALTY RS.1,00,000

06-AUG-2013 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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