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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 PUT IN TO USE ANY ROBUST SOFTWARE AS A PART OF EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person BIHAR STATE CO-OPERATIVE BANK LTD.,THE
  DID NOT PUT IN TO USE ANY ROBUST SOFTWARE AS A PART OF EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS

DID NOT SUBMIT STATUTORY RETURNS WITHIN PRESCRIBED TIMELINES

DELAY IN SUBMISSION OF STATUTORY/OFF-SITE SURVEILLANCE SYSTEM (OSS) RETURNS TO RBI AND/OR NABARD WITHIN PRESCRIBED TIMELINES

DID NOT OBTAIN MEMBERSHIP OF THREE OUT OF FOUR CREDIT INFORMATION COMPANIES (CICS)

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON VIDEO BASED CUSTOMER IDENTIFICATION PROCESS (V-CIP) INFRASTRUCTURE TO PREVENT CONNECTIONS FROM IP ADDRESSES OUTSIDE INDIA   		IMPOSED PENALTY RS.60,20,000

05-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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