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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: OPENED SEVERAL SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF INELIGIBLE ENTITIES

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person KARAD URBAN CO-OPERATIVE BANK LTD.
  OPENED SEVERAL SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF INELIGIBLE ENTITIES   IMPOSED PENALTY RS.13,30,000

01-MAR-2024 		 
2
History of entity/person RAJKOT NAGRIK SAHAKARI BANK LTD.,THE
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PROHIBITING LOANS & ADVANCES TO DIRECTORS & THEIR RELATIVES AND FIRMS/COMPANIES/CONCERNS IN WHICH THEY ARE INTERESTED

OPENED SEVERAL SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF INELIGIBLE ENTITIES

LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCES IN DORMANT/INOPERATIVE SAVING BANK ACCOUNTS AND/OR CURRENT DEPOSIT ACCOUNTS   		IMPOSED PENALTY RS.43,30,000

16-APR-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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