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

PRIVATE BANKS: CREATED FINANCIAL/NON-FINANCIAL MESSAGES IN SWIFT WITHOUT FIRST ENSURING THAT THE UNDERLYING TRANSACTIONS HAVE BEEN DULY REFLECTED IN CBS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person JAMMU & KASHMIR BANK LTD.,THE
  DID NOT ENSURE INTEGRITY AND QUALITY OF DATA SUBMITTED TO CRILC

EXTENDED TERM LOANS TO A CORPORATION (A) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS ARE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS (B) FAILED TO ENSURE THAT THE REPAYMENT/SERVICINGOF THE TERM LOANS WAS NOT MADE OUT OF BUDGETARY RESOURCES

CREATED FINANCIAL/NON-FINANCIAL MESSAGES IN SWIFT WITHOUT FIRST ENSURING THAT THE UNDERLYING TRANSACTIONS HAVE BEEN DULY REFLECTED IN CBS   		IMPOSED PENALTY RS.2,50,00,000

22-JUN-2023 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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