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

FOREIGN BANKS: DID NOT UNDERTAKE ONGOING CUSTOMER DUE DILIGENCE AND PUT INTO USE ROBUST SOFTWARE FOR GENERATING ALERTS WHEN TRANSACTIONS WERE INCONSISTENT WITH CUSTOMER PROFILE

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person SONALI BANK PLC
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS

DID NOT UNDERTAKE ONGOING CUSTOMER DUE DILIGENCE AND PUT INTO USE ROBUST SOFTWARE FOR GENERATING ALERTS WHEN TRANSACTIONS WERE INCONSISTENT WITH CUSTOMER PROFILE

DELAY IN IMPLEMENTATION OF CERTAIN SWIFT-RELATED OPERATIONAL CONTROLS   		IMPOSED PENALTY RS.96,40,000

10-JUN-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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