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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-JUL-2024

PRIVATE BANKS: DID NOT CARRY OUT ANNUAL REVIEW/DUE DILIGENCE OF SERVICE PROVIDER

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person KOTAK MAHINDRA BANK LTD.
  DID NOT CARRY OUT ANNUAL REVIEW/DUE DILIGENCE OF SERVICE PROVIDER

DID NOT ENSURE THAT CUSTOMERS ARE NOT CONTACTED AFTER 7 PM AND BEFORE 7 AM

DID NOT PAY INTEREST TO OVERDUE TERM DEPOSITS FROM THE DATE OF MATURITY TILL THE DATE OF REPAYMENT

LEVIED FORECLOSURE CHARGES DESPITE THERE WAS NO CLAUSE IN LOAN AGREEMENT FOR LEVY OF PREPAYMENT PENALTY ON LOANS RECALLED/FORECLOSURE INITIATED BY BANK   		IMPOSED PENALTY RS.3,95,00,000

17-OCT-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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