|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
1
|
|
AXIS BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRESERVATION OF RECORDS OF IDENTIFICATION OF CUSTOMERS AND/OR THEIR ADDRESSES
MADE PERSISTENT CALLS TO SOME OF THE CUSTOMERS
DID NOT ENSURE APPROPRIATE BEHAVIOR OF RECOVERY AGENTS WITH SOME OF DELINQUENT BORROWERS AND DID NOT ENSURE A TAPE RECORDING OF THE CONTENT/TEXT OF THE CALLS MADE BY THE RECOVERY AGENTS
DID NOT OBTAIN DECLARATIONS FROM CUSTOMERS AT THE TIME OF OPENING OF CURRENT ACCOUNTS
|
IMPOSED PENALTY RS.90,92,000
02-NOV-2023
|
|
|
2
|
|
|
AXIS BANK LTD.
|
|
|
LEVIED PENAL CHARGES IN CERTAIN ACCOUNTS FOR LATE PAYMENT OF CREDIT CARD DUES THOUGH CUSTOMERS HAD PAID DUES BY DUE DATE THROUGH THIRD PARTY PLATFORMS
|
IMPOSED PENALTY RS.30,00,000
22-JUN-2023
|
|
|
3
|
|
|
AXIS BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LOANS AND ADVANCES–STATUTORY AND OTHER RESTRICTIONS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON FINANCIAL SERVICES PROVIDED BY BANKS
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 DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LEVY OF PENAL CHARGES ON NON-MAINTENANCE OF MINIMUM BALANCES IN SAVINGS BANK ACCOUNTS
|
IMPOSED PENALTY RS.93,00,000
07-APR-2022
|
|
|
4
|
|
|
AXIS BANK LTD.
|
|
|
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
|
IMPOSED PENALTY RS.25,00,000
01-SEP-2021
|
|
|
5
|
|
|
AXIS BANK LTD.
|
|
|
DELAY IN REPORTING CYBER SECURITY INCIDENT
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON STRENGTHENING THE CONTROLS OF PAYMENT ECOSYSTEM BETWEEN SPONSOR BANKS AND SCBS/UCBS AS CORPORATE CUSTOMER DATED 09/05/2019
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON FINANCIAL SERVICES PROVIDED BY BANKS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON FINANCIAL INCLUSION - ACCESS TO BANKING SERVICES - BASIC SAVINGS BANK DEPOSIT ACCOUNT DATED 10/08/2012
|
IMPOSED PENALTY RS.5,00,00,000
28-JUL-2021
|
|
|
6
|
|
|
AXIS BANK LTD.
|
|
|
DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DETECTION & IMPOUNDING OF COUNTERFEIT NOTES
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INSTALLATION OF NOTES SORTING MACHINES
|
IMPOSED PENALTY RS.20,00,000
29-JAN-2019
|
|
|
7
|
|
|
AXIS BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES PERTAINING TO COLLECTION OF THIRD PARTY ACCOUNT PAYEE CHEQUES
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.2,00,00,000
29-JAN-2019
|
|
|
8
|
|
|
AXIS BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) NORMS AND FRAUDS
|
IMPOSED PENALTY RS.3,00,00,000
27-FEB-2018
|
|
|
9
|
|
|
AXIS BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN MATTER OF DECCAN CHRONICLE HOLDINGS LTD.
|
IMPOSED PENALTY RS.15,00,000
25-JUL-2014
|
|
|
10
|
|
|
AXIS BANK LTD.
|
|
|
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 OBSERVE CERTAIN SAFEGUARDS IN RESPECT OF ARRANGEMENT OF “AT PAR” PAYMENT OF CHEQUES DRAWN BY CO-OPERATIVE BANKS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON KYC COMPLIANCE FOR WALK-IN CUSTOMERS INCLUDING FOR SALE OF THIRD PARTY PRODUCTS
DID NOT FILE CASH TRANSACTION REPORTS (CTRS) IN RESPECT OF SOME CASH TRANSACTIONS, SALE OF GOLD COINS FOR CASH BEYOND RS. 50,000
DID NOT OBTAIN PERMANENT ACCOUNT NUMBER (PAN) CARD DETAILS OR FORM 60/61
DID NOT VERIFY SOURCE OF FUNDS CREDITED TO FEW NON-RESIDENT ORDINARY (NRO) ACCOUNTS
DID NOT RE-DESIGNATE FEW ACCOUNTS AS NRO ACCOUNTS
|
IMPOSED PENALTY RS.5,00,10,000
10-JUN-2013
|
|
|
11
|
|
|
AXIS BANK LTD.
|
|
|
DID NOT ADHERE TO INSTRUCTIONS OF RBI ON DERIVATIVES, SUCH AS FAILURE TO CARRY OUT DUE DILIGENCE IN REGARD TO SUITABILITY OF PRODUCTS, SELLING DERIVATIVE PRODUCTS TO USERS NOT HAVING RISK MANAGEMENT POLICIES AND NOT VERIFYING UNDERLYING/ADEQUACY OF UNDERLYING AND ELIGIBLE LIMITS UNDER PAST PERFORMANCE ROUTE
|
IMPOSED PENALTY RS.15,00,000
26-APR-2011
|
|
|
12
|
|
|
BANDHAN BANK LTD.
|
|
|
OPENED SEVERAL SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF INELIGIBLE ENTITIES
|
IMPOSED PENALTY RS.29,55,000
04-MAR-2024
|
|
|
13
|
|
|
BANDHAN BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON REPORTING OF DATA ON CENTRAL REPOSITORY OF INFORMATION ON LARGE CREDITS (CRILS)
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON BANK FINANCE TO NBFCS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LENDING TO NBFCS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LOANS AND ADVANCES–STATUTORY AND OTHER RESTRICTIONS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON OPERATING GUIDELINES FOR SMALL FINANCE BANKS
|
IMPOSED PENALTY RS.1,00,00,000
06-JUL-2021
|
|
|
14
|
|
|
BANDHAN BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PROMOTER HOLDING
|
IMPOSED PENALTY RS.1,00,00,000
29-OCT-2019
|
|
|
15
|
|
|
BANK OF RAJASTHAN LTD.,THE
|
|
|
VIOLATED SUB-SECTION (1) OF SECTION 35A OF BANKING REGULATION ACT, 1949
DELETED RECORDS IN BANK’S IT SYSTEMS
DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) DIRECTIVES/INSTRUCTIONS/GUIDELINES
DID NOT PROVIDE CERTAIN DOCUMENTS SOUGHT BY RBI AND MISREPRESENTED THAT SUCH DOCUMENTS WERE NOT AVAILABLE
IRREGULARITIES IN CONDUCT OF ACCOUNTS OF A CORPORATE GROUP
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
|
IMPOSED PENALTY RS.25,00,000
25-FEB-2010
|
|
|
16
|
|
|
CATHOLIC SYRIAN BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DIRECT CREATION OF PAYMENT MESSAGES IN SWIFT ENVIRONMENT
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON IMPLEMENTATION OF STRAIGHT THROUGH PROCESSING (STP) BETWEEN CBS/ACCOUNTING SYSTEM AND SWIFT SYSTEM
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI TO ENSURE THAT THE USERS ENTERING/PASSING/AUTHORIZING TRANSACTIONS IN CBS DIFFERENT FROM THOSE OPERATING IN SWIFT ENVIRONMENT
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INDEPENDENT RECONCILIATION OF LOGS GENERATED FROM SWIFT WITH CORRESPONDING ENTRY PASSED IN CBS/ACCOUNTING SYSTEM
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INTRODUCTION OF ADDITIONAL LAYER OF APPROVAL FOR ALL PAYMENT MESSAGES EXCEEDING PARTICULAR THRESHOLD
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON NOSTRO RECONCILIATION ON T+1/T+5 BASIS
|
IMPOSED PENALTY RS.4,00,00,000
25-FEB-2019
|
|
|
17
|
|
|
CATHOLIC SYRIAN 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
BANK’S CONTROL SYSTEMS FAILED IN DETECTING IRREGULARITIES
|
IMPOSED PENALTY RS.10,00,000
26-JUL-2007
|
|
|
18
|
|
|
CENTURION BANK OF PUNJAB LTD.
|
|
|
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
VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON IPO FINANCING
|
IMPOSED PENALTY RS.15,00,000
01-JUN-2006
|
|
|
19
|
|
|
CITY UNION BANK LTD.
|
|
|
CLASSIFIED BORROWED ACCOUNTS AS NPAS, LEADING TO SIGNIFICANT DIVERGENCE BETWEEN REPORTED AND ASSESSED NPAS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS
|
IMPOSED PENALTY RS.66,00,000
08-FEB-2024
|
|
|
20
|
|
|
CITY UNION BANK LTD.
|
|
|
DID NOT ADHERE TO RBI LENDING TO MICRO, SMALL & MEDIUM ENTERPRISES (MSME) SECTOR DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2017
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON EDUCATIONAL LOAN SCHEME AND CREDIT FLOW TO AGRICULTURE – AGRICULTURAL LOANS – WAIVER OF MARGIN/SECURITY REQUIREMENTS
|
IMPOSED PENALTY RS.1,00,00,000
19-MAY-2021
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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