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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: FLOATED TRUST FOR GENERAL PUBLIC IN VIOLATION OF RULES

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person AHMEDABAD MERCANTILE CO-OPERATIVE BANK LTD.,THE
  DID NOT DISPLAY ITS NAME PROPERLY IN ITS STATIONERY AND ADVERTISEMENTS

FLOATED TRUST FOR GENERAL PUBLIC IN VIOLATION OF RULES

ENROLLED CO-OPERATIVE SOCIETIES AS MEMBERS   		IMPOSED PENALTY RS.1,00,000

11-NOV-2011 		 
2
History of entity/person SURAT PEOPLE'S CO-OPERATIVE BANK LTD.,THE
  FLOATED TRUST FOR GENERAL PUBLIC IN VIOLATION OF RULES

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PROHIBITING LOANS & ADVANCES TO DIRECTORS & THEIR RELATIVES AND FIRMS/COMPANIES/CONCERNS IN WHICH THEY ARE INTERESTED

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.5,00,000

28-JUN-2012 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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