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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: LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person NASIK MERCHANT'S CO-OPERATIVE BANK LTD.,THE
  DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD

LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCES IN DORMANT/INOPERATIVE SAVING BANK ACCOUNTS AND/OR CURRENT DEPOSIT ACCOUNTS

LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS   		IMPOSED PENALTY RS.48,30,000

02-NOV-2023 		 
2
History of entity/person RAJARSHI SHAHU SAHAKARI BANK LTD.
  COLLECTED FIX PENALTY FOR SHORTFALL IN MAINTENANCE OF MINIMUM BALANCE IN SAVING BANK ACCOUNTS INSTEAD OF PROPORTIONATE TO THE EXTENT OF SHORTFALL

LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS   		IMPOSED PENALTY RS.1,00,000

16-NOV-2023 		 
3
History of entity/person YASHWANT CO-OPERATIVE BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON CLASSIFY CERTAIN LOANS AND/OR CREDIT FACILITIES AS NON-PERFORMING ASSETS IN ACCORDANCE WITH IRAC NORMS

SANCTIONED LOANS THAT BREACHED CEILING ON UNSECURED ADVANCES AND EXPOSURE TO INDIVIDUAL MEMBERS AND NOMINAL MEMBERS

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 DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRANSFER OF ELIGIBLE FUNDS TO DEPOSITOR EDUCATION AND AWARENESS FUND

LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS   		IMPOSED PENALTY RS.5,00,000

16-JUL-2024 		 
4
History of entity/person ZOROASTRIAN CO-OPERATIVE BANK LTD.
  LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PAYMENT OF INTEREST ON BALANCE AMOUNTS LYING IN CURRENT ACCOUNTS OF DECEASED INDIVIDUAL DEPOSITORS/SOLE PROPRIETORSHIP CONCERNS WHILE MAKING PAYMENTS TO CLAIMANTS

DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD   		IMPOSED PENALTY RS.43,30,000

06-FEB-2024 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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