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Co-Sponsors

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

CO-OPERATIVE BANKS: MADE DONATION TO CERTAIN ENTITY AND OFFERED HIGHER INTEREST RATES ON DEPOSITS (FRESH/RENEWAL) THAN THOSE OFFERED BY SBI

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person VAIJAPUR MERCHANTS CO-OPERATIVE BANK LTD.,THE
  MADE DONATION TO CERTAIN ENTITY AND OFFERED HIGHER INTEREST RATES ON DEPOSITS (FRESH/RENEWAL) THAN THOSE OFFERED BY SBI

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON ROBUST SOFTWARE TO THROW ALERTS AS PART OF EFFECTIVE IDENTIFICATION OF ACCOUNTS AND REPORTING OF SUSPICIOUS TRANSACTIONS   		IMPOSED PENALTY RS.7,50,000

21-OCT-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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