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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 PROVISIONS OF CIRCULAR ON CASH TRANSACTIONS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CO-OPERATIVE CITY BANK LTD.,THE
  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 PROVISIONS OF CIRCULAR ON CASH TRANSACTIONS

DID NOT ADHERE TO REQUIREMENTS IN RELATION TO IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS   		IMPOSED PENALTY RS.5,00,000

16-AUG-2016 		 
2
History of entity/person GAUHATI CO-OPERATIVE URBAN 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 PROVISIONS OF CIRCULAR ON CASH TRANSACTIONS   		IMPOSED PENALTY RS.1,00,000

16-SEP-2016 		 
3
History of entity/person NAGARIK SAMABAY 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 PROVISIONS OF CIRCULAR ON CASH TRANSACTIONS   		IMPOSED PENALTY RS.1,00,000

19-SEP-2016 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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