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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 DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF “KNOW YOUR CLIENTS” OF CUSTOMERS AS PER RISK CATEGORISATION

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CANARA BANK
  DID NOT LINK INTEREST ON FLOATING RATE RETAIL LOANS AND LOANS TO MSME TO EXTERNAL BENCHMARK

DID NOT LINK INTEREST ON FLOATING RATE RUPEE LOANS SANCTIONED AND RENEWED DURING FINANCIAL YEAR 2020-21 TO ITS MARGINAL COST OF LENDING RATE (MCLR)

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF “KNOW YOUR CLIENTS” OF CUSTOMERS AS PER RISK

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF “KNOW YOUR CLIENTS” OF CUSTOMERS AS PER RISK CATEGORISATION

DID NOT PAY ELIGIBLE INTEREST AT THE TIME OF REPAYMENT ON MATURED UNPAID TERM DEPOSITS FOR THE PERIOD THEY REMAINED UNCLAIMED WITH BANK

DID NOT ENABLE CUSTOMERS TO INSTANTLY RESPOND BY “REPLY” TO SMS AND E-MAIL ALERT SENT BY THE BANK

DID NOT IMPLEMENT DEVICE BINDING CONTROL MEASURE RELATED TO ‘SMS DELIVERY RECEIPT CHECK’   		IMPOSED PENALTY RS.2,92,00,000

09-MAY-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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