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S.No.
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ENTITY |
PERSONS |
REGULATORY CHARGES
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REGULATORY ACTION(S) / DATE OF ORDER
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FURTHER DEVELOPMENTS
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|
1
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BALASINOR NAGARIK SAHAKARI BANK LTD.
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI U/S 36 (1) OF THE BANKING REGULATIONS ACT, 1949
EXCEEDED PRESCRIBED INDIVIDUAL BORROWER EXPOSURE LIMIT
SANCTIONED LOANS ON BULLET REPAYMENT BASIS AGAINST GOLD/SILVER ORNAMENTS BEYOND PRESCRIBED CEILING LIMIT
DID NOT ADHERE TO UNIQUE CUSTOMER IDENTIFICATION CODE (UCIC) RELATED DIRECTIVES/INSTRUCTIONS/GUIDELINES
|
IMPOSED PENALTY RS.2,00,000
30-OCT-2015
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2
|
|
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HARIJ NAGRIK SAHAKARI BANK LTD.,THE
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI U/S 36 (1) OF THE BANKING REGULATIONS ACT, 1949
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/INSTRUCTIONS/GUIDELINES FOR GOLD LOAN WITH BULLET REPAYMENT OPTION
|
IMPOSED PENALTY RS.3,00,000
31-MAR-2016
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3
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JAMBUSAR PEOPLES CO-OPERATIVE BANK LTD.,THE
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI U/S 36 (1) OF THE BANKING REGULATIONS ACT, 1949
DID NOT REPORT CASH TRANSACTIONS REPORTS (CTR) TO FINANCIAL INTELLIGENCE UNIT-INDIA (FIU-IND)
DID NOT PLACE APPROPRIATE SYSTEM FOR IDENTIFICATION OF SUSPICIOUS TRANSACTIONS
DID NOT SUBMIT QUARTERLY CERTIFICATE OF HOLDING OF GOVERNMENT SECURITIES
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IMPOSED PENALTY RS.3,00,000
31-MAR-2016
|
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4
|
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KAPADWANJ PEOPLES CO-OPERATIVE BANK LTD.,THE
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI U/S 36 (1) OF THE BANKING REGULATIONS ACT, 1949
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PROHIBITING LOANS & ADVANCES TO DIRECTORS & THEIR RELATIVES AND FIRMS/COMPANIES/CONCERNS IN WHICH THEY ARE INTERESTED
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 IMPLEMENT CORE BANKING SOLUTION
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IMPOSED PENALTY RS.2,00,000
15-FEB-2016
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|
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5
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KUTCH MERCANTILE CO-OPERATIVE BANK LTD.,THE
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI U/S 36 (1) OF THE BANKING REGULATIONS ACT, 1949
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 PLACE APPROPRIATE SYSTEM FOR IDENTIFICATION OF SUSPICIOUS TRANSACTIONS
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IMPOSED PENALTY RS.5,00,000
12-FEB-2016
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The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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