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

URBAN CO-OPERATIVE BANKS: DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) NORMS AND FRAUDS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person NAKODAR HINDU URBAN CO-OPERATIVE BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) NORMS AND FRAUDS

PAID DIVIDEND, SANCTIONED/RENEWED LOANS EXCEEDING 50% OF APPLICABLE REGULATORY LIMIT FOR SINGLE BORROWER EXPOSURE, INCURRED CAPITAL EXPENDITURE EXCEEDING PRESCRIBED LIMIT AND INCURRED OPERATING EXPENDITURE BY GRANTING GIFTS   		IMPOSED PENALTY RS.6,00,000

03-FEB-2024 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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