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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 THE DO’S AND DON’TS PRESCRIBED FOR BOARD OF DIRECTORS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person JAIN 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 DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PROHIBITING LOANS & ADVANCES TO DIRECTORS & THEIR RELATIVES AND FIRMS/COMPANIES/CONCERNS IN WHICH THEY ARE INTERESTED

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INSPECTION COMPLIANCE

VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI FOR CONDUCTING BANKING BUSINESS

EXCEEDED EXPOSURE TO HOUSING AND REAL ESTATE SECTORS

DID NOT ADHERE TO THE DO’S AND DON’TS PRESCRIBED FOR BOARD OF DIRECTORS   		IMPOSED PENALTY RS.2,00,000

31-MAY-2013 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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