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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 RATES STRICTLY AS PER SCHEDULE OF INTEREST RATES DISCLOSED IN ADVANCE IN SEVERAL TERM DEPOSIT ACCOUNTS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person MANDAL NAGARIK SAHAKARI BANK LTD.,THE
  SANCTIONED AND/OR RENEWED LOAN TO A RELATIVE OF ONE OF ITS DIRECTORS

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

OPENED SAVINGS DEPOSIT ACCOUNTS OF TRUST WHOSE ENTIRE INCOME NOT EXEMPT FROM PAYMENT OF INCOME-TAX UNDER THE INCOME TAX ACT, 1961

DID NOT PAY INTEREST RATES STRICTLY AS PER SCHEDULE OF INTEREST RATES DISCLOSED IN ADVANCE IN SEVERAL TERM DEPOSIT ACCOUNTS   		IMPOSED PENALTY RS.1,50,000

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

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