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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 RATE ON DEPOSITS ACCEPT FROM SENIOR CITIZENS AS PER SCHEDULE OF INTEREST RATES DISCLOSE IN ADVANCE

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person PEOPLE'S CO-OPERATIVE BANK LTD.,DHOLKA
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LOANS AND/OR ADVANCES TO DIRECTORS AND THEIR RELATIVES

DID NOT PAY INTEREST RATE ON DEPOSITS ACCEPT FROM SENIOR CITIZENS AS PER SCHEDULE OF INTEREST RATES DISCLOSE IN ADVANCE   		IMPOSED PENALTY RS.3,00,000

18-SEP-2023 		 
2
History of entity/person RAJKOT NAGARIK SAHAKARI BANK LTD.
  DID NOT PAY INTEREST RATE ON DEPOSITS ACCEPT FROM SENIOR CITIZENS AS PER SCHEDULE OF INTEREST RATES DISCLOSE IN ADVANCE

DID NOT PAY INTEREST RATES STRICTLY AS PER SCHEDULE OF INTEREST RATES DISCLOSED IN ADVANCE IN SEVERAL TERM DEPOSIT ACCOUNTS   		IMPOSED PENALTY RS.13,00,000

22-SEP-2023 		 
3
History of entity/person SURAT NATIONAL CO-OPERATIVE BANK LTD.
  DID NOT PAY INTEREST RATE ON DEPOSITS ACCEPT FROM SENIOR CITIZENS AS PER SCHEDULE OF INTEREST RATES DISCLOSE IN ADVANCE

DID NOT PROVIDE DIRECT LINK TO LODGE COMPLAINTS WITH SPECIFIC OPTION TO REPORT UNAUTHORISED ELECTRONIC TRANSACTIONS ON HOME PAGE OF WEBSITE   		IMPOSED PENALTY RS.6,00,000

18-SEP-2023 		 
4
History of entity/person VADNAGAR NAGARIK SAHAKARI BANK LTD.
  GRANTED UNSECURED LOANS TO DIRECTOR AND/OR THEIR PROPRIETORSHIP FIRM

DID NOT PAY INTEREST RATE ON DEPOSITS ACCEPT FROM SENIOR CITIZENS AS PER SCHEDULE OF INTEREST RATES DISCLOSE IN ADVANCE   		IMPOSED PENALTY RS.2,00,000

18-SEP-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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