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

NATIONALISED BANKS: DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT ACCOUNTS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person ALLAHABAD BANK
  DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT ACCOUNTS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DISCOUNTING/REDISCOUNTING OF BILLS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON END USE OF FUNDS-MONITORING AND DEPOSITS ON BALANCE SHEET DATE   		IMPOSED PENALTY RS.2,00,00,000

31-JUL-2019 		 
2
History of entity/person BANK OF BARODA
  DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT ACCOUNTS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DISCOUNTING/REDISCOUNTING OF BILLS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON END USE OF FUNDS-MONITORING AND DEPOSITS ON BALANCE SHEET DATE   		IMPOSED PENALTY RS.1,50,00,000

31-JUL-2019 		 
3
History of entity/person BANK OF INDIA
  DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT ACCOUNTS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DISCOUNTING/REDISCOUNTING OF BILLS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON END USE OF FUNDS-MONITORING AND DEPOSITS ON BALANCE SHEET DATE   		IMPOSED PENALTY RS.1,50,00,000

31-JUL-2019 		 
4
History of entity/person BANK OF MAHARASHTRA
  DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT ACCOUNTS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DISCOUNTING/REDISCOUNTING OF BILLS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON END USE OF FUNDS-MONITORING AND DEPOSITS ON BALANCE SHEET DATE   		IMPOSED PENALTY RS.2,00,00,000

31-JUL-2019 		 
5
History of entity/person INDIAN OVERSEAS BANK
  DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT ACCOUNTS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DISCOUNTING/REDISCOUNTING OF BILLS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON END USE OF FUNDS-MONITORING AND DEPOSITS ON BALANCE SHEET DATE   		IMPOSED PENALTY RS.1,50,00,000

31-JUL-2019 		 
6
History of entity/person ORIENTAL BANK OF COMMERCE
  DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT ACCOUNTS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DISCOUNTING/REDISCOUNTING OF BILLS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON END USE OF FUNDS-MONITORING AND DEPOSITS ON BALANCE SHEET DATE   		IMPOSED PENALTY RS.1,00,00,000

31-JUL-2019 		 
7
History of entity/person STATE BANK OF INDIA
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) NORMS AND FRAUDS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CREATION OF CENTRAL REPOSITORY OF LARGE COMMON EXPOSURES - ACROSS BANKS READ WITH CENTRAL REPOSITORY OF INFORMATION ON LARGE CREDITS (CRILC) – REVISION IN REPORTING

DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT ACCOUNTS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON FRAUD RISK MANAGEMENT AND CLASSIFICATION & REPORTING OF FRAUDS   		IMPOSED PENALTY RS.7,00,00,000

15-JUL-2019 		 
8
History of entity/person UNION BANK OF INDIA
  DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT ACCOUNTS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DISCOUNTING/REDISCOUNTING OF BILLS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON END USE OF FUNDS-MONITORING AND DEPOSITS ON BALANCE SHEET DATE   		IMPOSED PENALTY RS.1,50,00,000

31-JUL-2019 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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