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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 21-NOV-2024

CO-OPERATIVE BANKS: DID NOT ADHERE TO DIRECTIVES ON RISK CATEGORIZATION AND FIXATION OF THRESHOLD LIMITS

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

DID NOT ADHERE TO DIRECTIVES ON RISK CATEGORIZATION AND FIXATION OF THRESHOLD LIMITS

DID NOT PLACE APPROPRIATE SYSTEM FOR GENERATING ALERTS FOR IDENTIFICATION OF SUSPICIOUS TRANSACTIONS   		IMPOSED PENALTY RS.1,00,000

05-AUG-2015 		 
2
History of entity/person INTEGRAL URBAN CO-OPERATIVE BANK LTD.
  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

DID NOT MONITOR CASH TRANSACTIONS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF FACILITY FOR GENERATING ALERT REPORT FOR CASH TRANSACTION REPORT (CTR)/SUSPICIOUS TRANSACTION REPORT (STR)

DID NOT ADHERE TO DIRECTIVES ON RISK CATEGORIZATION AND FIXATION OF THRESHOLD LIMITS

DID NOT REPORT CASH TRANSACTIONS REPORTS (CTR) TO FINANCIAL INTELLIGENCE UNIT-INDIA (FIU-IND) INCLUDING DIRECTOR RELATED ACCOUNTS   		IMPOSED PENALTY RS.20,00,000

09-JUN-2015 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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