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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 PLACE APPROPRIATE SYSTEM FOR GENERATING ALERTS FOR IDENTIFICATION OF SUSPICIOUS TRANSACTIONS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person DAUSA URBAN 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 ANTI MONEY LAUNDERING (AML) DIRECTIVES/INSTRUCTIONS/GUIDELINES

DID NOT ADHERE TO DIRECTIVES ON RISK CATEGORIZATION AND FIXATION OF THRESHOLD LIMITS

DID NOT PLACE APPROPRIATE SYSTEM FOR GENERATING ALERTS FOR IDENTIFICATION OF SUSPICIOUS TRANSACTIONS   		IMPOSED PENALTY RS.1,00,000

05-AUG-2015 		 
2
History of entity/person DHULE & NANDURBAR JILHA SARKARI NOKARANCHI SAHAKARI BANK LTD.
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS

DID NOT ADHERE TO “KNOW YOUR CUSTOMER” DIRECTIVES/INSTRUCTIONS/GUIDELINES IN OPENING AND/OR OPERATING THE ACCOUNTS

DID NOT PLACE APPROPRIATE SYSTEM FOR GENERATING ALERTS FOR IDENTIFICATION OF SUSPICIOUS TRANSACTIONS   		IMPOSED PENALTY RS.1,00,000

27-APR-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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