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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 PAY INTEREST ON BALANCES LYING IN CURRENT ACCOUNT STANDING IN NAME OF DECEASED INDIVIDUAL DEPOSITORS OR SOLE PROPRIETORSHIP CONCERNS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person NAGPUR NAGARIK SAHAKARI BANK LTD.
  DID NOT PAY ELIGIBLE INTEREST AT THE TIME OF REPAYMENT ON TERM DEPOSITS MATURING ON SUNDAY/HOLIDAY/NON-BUSINESS WORKING DAY AND PAID ON SUCCEEDING WORKING DAYS

DID NOT PAY INTEREST ON BALANCES LYING IN CURRENT ACCOUNT STANDING IN NAME OF DECEASED INDIVIDUAL DEPOSITORS OR SOLE PROPRIETORSHIP CONCERNS

DID NOT PAY INTEREST ON MATURED TERM DEPOSITS FROM THE DATE OF MATURITY TILL DATE OF REPAYMENT AT THE APPLICABLE RATE

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.28,30,000

27-MAR-2024 		 
2
History of entity/person TEXTILE TRADERS CO-OPERATIVE BANK LTD.
  DID NOT PAY ELIGIBLE INTEREST AT THE TIME OF REPAYMENT ON TERM DEPOSITS MATURING ON SUNDAY/HOLIDAY/NON-BUSINESS WORKING DAY AND PAID ON SUCCEEDING WORKING DAYS

DID NOT PAY INTEREST ON BALANCES LYING IN CURRENT ACCOUNT STANDING IN NAME OF DECEASED INDIVIDUAL DEPOSITORS OR SOLE PROPRIETORSHIP CONCERNS

DID NOT PAY INTEREST ON DEPOSITS WITHDRAWN BEFORE MATURITY FOR THE PERIOD DEPOSITS REMAINED WITH THE BANK

DID NOT PROVIDE 24X7 ACCESS THROUGH MULTIPLE CHANNELS TO REPORTUNAUTHORISED ELECTRONIC TRANSACTIONS THAT HAD TAKEN PLACE AND/OR LOSS OR THEFT OF PAYMENT INSTRUMENT SUCH AS CARD ETC.

DID NOT UNDERTAKE ONGOING CUSTOMER DUE DILIGENCE AND PUT INTO USE ROBUST SOFTWARE FOR GENERATING ALERTS WHEN TRANSACTIONS WERE INCONSISTENT WITH CUSTOMER PROFILE

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.4,50,000

19-JUN-2023 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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