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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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M.S.CO-OPERATIVE BANK LTD.
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DID NOT PAY ELIGIBLE INTEREST AT THE TIME OF REPAYMENT ON MATURED UNPAID TERM DEPOSITS FOR THE PERIOD THEY REMAINED UNCLAIMED WITH BANK
DID NOT PAY ELIGIBLE INTEREST AT THE TIME OF REPAYMENT ON TERM DEPOSITS MATURING ON SUNDAY/HOLIDAY/NON-BUSINESS WORKING DAY AND PAID ON SUCCEEDING WORKING DAYS
DID NOT PAY INTEREST ON BALANCES LYING IN CURRENT ACCOUNT STANDING IN NAME OF DECEASED INDIVIDUAL DEPOSITORS OR SOLE PROPRIETORSHIP CONCERNS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF “KNOW YOUR CLIENTS” OF CUSTOMERS AS PER RISK
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IMPOSED PENALTY RS.1,50,000
12-NOV-2024
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2
|
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MANDAL NAGARIK SAHAKARI BANK LTD.,THE
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SANCTIONED AND/OR RENEWED LOAN TO A RELATIVE OF ONE OF ITS DIRECTORS
DID NOT PAY ELIGIBLE INTEREST AT THE TIME OF REPAYMENT ON TERM DEPOSITS MATURING ON SUNDAY/HOLIDAY/NON-BUSINESS WORKING DAY AND PAID ON SUCCEEDING WORKING DAYS
OPENED SAVINGS DEPOSIT ACCOUNTS OF TRUST WHOSE ENTIRE INCOME NOT EXEMPT FROM PAYMENT OF INCOME-TAX UNDER THE INCOME TAX ACT, 1961
DID NOT PAY INTEREST RATES STRICTLY AS PER SCHEDULE OF INTEREST RATES DISCLOSED IN ADVANCE IN SEVERAL TERM DEPOSIT ACCOUNTS
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IMPOSED PENALTY RS.1,50,000
03-NOV-2023
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3
|
|
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NAGPUR NAGARIK SAHAKARI BANK LTD.
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DID NOT PAY ELIGIBLE INTEREST AT THE TIME OF REPAYMENT ON TERM DEPOSITS MATURING ON SUNDAY/HOLIDAY/NON-BUSINESS WORKING DAY AND PAID ON SUCCEEDING WORKING DAYS
DID NOT PAY INTEREST ON BALANCES LYING IN CURRENT ACCOUNT STANDING IN NAME OF DECEASED INDIVIDUAL DEPOSITORS OR SOLE PROPRIETORSHIP CONCERNS
DID NOT PAY INTEREST ON MATURED TERM DEPOSITS FROM THE DATE OF MATURITY TILL DATE OF REPAYMENT AT THE APPLICABLE RATE
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS
|
IMPOSED PENALTY RS.28,30,000
27-MAR-2024
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4
|
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SARVODAYA SAHAKARI BANK LTD., THE
|
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GRANTED UNSECURED LOANS TO DIRECTOR AND/OR THEIR PROPRIETORSHIP FIRM
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRUDENTIAL INTER-BANK (GROSS) EXPOSURE LIMITS AND/OR INTER-BANK COUNTER PARTY EXPOSURE LIMITS
DID NOT PAY ELIGIBLE INTEREST AT THE TIME OF REPAYMENT ON TERM DEPOSITS MATURING ON SUNDAY/HOLIDAY/NON-BUSINESS WORKING DAY AND PAID ON SUCCEEDING WORKING DAYS
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IMPOSED PENALTY RS.6,00,000
31-AUG-2023
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5
|
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SHRI MAHILA SEWA SAHAKARI BANK LTD.
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRUDENTIAL INTER-BANK (GROSS) EXPOSURE LIMITS AND/OR INTER-BANK COUNTER PARTY EXPOSURE LIMITS
DID NOT PAY INTEREST ON DEPOSITS WITHDRAWN BEFORE MATURITY FOR THE PERIOD DEPOSITS REMAINED WITH THE BANK
DID NOT PAY ELIGIBLE INTEREST AT THE TIME OF REPAYMENT ON TERM DEPOSITS MATURING ON SUNDAY/HOLIDAY/NON-BUSINESS WORKING DAY AND PAID ON SUCCEEDING WORKING DAYS
|
IMPOSED PENALTY RS.2,50,000
25-OCT-2023
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6
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TEXTILE TRADERS CO-OPERATIVE BANK LTD.
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DID NOT PAY ELIGIBLE INTEREST AT THE TIME OF REPAYMENT ON TERM DEPOSITS MATURING ON SUNDAY/HOLIDAY/NON-BUSINESS WORKING DAY AND PAID ON SUCCEEDING WORKING DAYS
DID NOT PAY INTEREST ON BALANCES LYING IN CURRENT ACCOUNT STANDING IN NAME OF DECEASED INDIVIDUAL DEPOSITORS OR SOLE PROPRIETORSHIP CONCERNS
DID NOT PAY INTEREST ON DEPOSITS WITHDRAWN BEFORE MATURITY FOR THE PERIOD DEPOSITS REMAINED WITH THE BANK
DID NOT PROVIDE 24X7 ACCESS THROUGH MULTIPLE CHANNELS TO REPORTUNAUTHORISED ELECTRONIC TRANSACTIONS THAT HAD TAKEN PLACE AND/OR LOSS OR THEFT OF PAYMENT INSTRUMENT SUCH AS CARD ETC.
DID NOT UNDERTAKE ONGOING CUSTOMER DUE DILIGENCE AND PUT INTO USE ROBUST SOFTWARE FOR GENERATING ALERTS WHEN TRANSACTIONS WERE INCONSISTENT WITH CUSTOMER PROFILE
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS
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IMPOSED PENALTY RS.4,50,000
19-JUN-2023
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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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