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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: LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS AND PROVIDING THEM WITH ONE MONTH NOTICE FOR RESTORATION OF MINIMUM BALANCES

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CHEMBUR NAGARIK SAHAKARI BANK LTD.,THE
  COLLECTED FIX PENALTY FOR SHORTFALL IN MAINTENANCE OF MINIMUM BALANCE IN SAVING BANK ACCOUNTS INSTEAD OF PROPORTIONATE TO THE EXTENT OF SHORTFALL

LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS AND PROVIDING THEM WITH ONE MONTH NOTICE FOR RESTORATION OF MINIMUM BALANCES   		IMPOSED PENALTY RS.1,00,000

20-NOV-2023 		 
2
History of entity/person NATIONAL CO-OPERATIVE BANK LTD.,THE
  LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS AND PROVIDING THEM WITH ONE MONTH NOTICE FOR RESTORATION OF MINIMUM BALANCES   IMPOSED PENALTY RS.1,00,000

14-AUG-2023 		 
3
History of entity/person RAHIMATPUR SAHAKARI BANK LTD.
  LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS AND PROVIDING THEM WITH ONE MONTH NOTICE FOR RESTORATION OF MINIMUM BALANCES   IMPOSED PENALTY RS.1,00,000

14-SEP-2023 		 
4
History of entity/person SAHAYADRI SAHAKARI BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRANSFER OF ELIGIBLE FUNDS TO DEPOSITOR EDUCATION AND AWARENESS FUND

OFFERED INTEREST RATES ON DEPOSITS FOR VARIOUS DURATIONS HIGHER THAN THAT OFFERED BY STATE BANK OF INDIA IN NON-COMPLIANCE WITH THE SAF DIRECTIONS

DID NOT ADHERE TO “KNOW YOUR CUSTOMER” DIRECTIVES/INSTRUCTIONS/GUIDELINES IN OPENING AND/OR OPERATING THE ACCOUNTS

LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS AND PROVIDING THEM WITH ONE MONTH NOTICE FOR RESTORATION OF MINIMUM BALANCES

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.6,00,000

15-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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