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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: PERSISTING IRREGULARITIES POINTED OUT IN PREVIOUS INSPECTION REPORT

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person JIVAN COMMERCIAL CO-OPERATIVE BANK LTD.,THE
  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

DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) DIRECTIVES/INSTRUCTIONS/GUIDELINES

VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES ON ADVANCES TO BUILDERS AND CONTRACTORS AGAINST SECURITY OF LAND

VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INDIVIDUAL AND GROUP EXPOSURE LIMITS

VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR UNSECURED FINANCIAL GUARANTEES

PERSISTING IRREGULARITIES POINTED OUT IN PREVIOUS INSPECTION REPORT   		IMPOSED PENALTY RS.5,00,000

16-JUN-2011 		 
2
History of entity/person PREMIER AUTOMOBILE EMPLOYEES' CO-OPERATIVE BANK LTD.,THE
  PERSISTING IRREGULARITIES POINTED OUT IN PREVIOUS INSPECTION REPORT

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON OPERATIONAL MATTERS   		REJECTION OF APPLICATION FOR BANKING LICENSE

DIRECTED REGISTRAR OF CO-OPERATIVE SOCIETIES TO ISSUE ORDER FOR WINDING UP OF BANK AND APPOINT LIQUIDATOR

23-JUL-2012 		 
3
History of entity/person RAJKOT NAGRIK SAHAKARI BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN RELATION TO INCOME RECOGNITION, ASSET CLASSIFICATION AND PROVISIONING DIRECTIVES/INSTRUCTIONS/GUIDELINES

DID NOT ADHERE TO VARIOUS DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI RELATING TO ISSUANCE OF DEMAND DRAFT/PAY ORDER

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

PERSISTING IRREGULARITIES POINTED OUT IN PREVIOUS INSPECTION REPORT   		IMPOSED PENALTY RS.5,00,000

15-JAN-2014 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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