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

NATIONALISED BANKS: ALLOWED OPERATIONS IN CERTAIN SMALL ACCOUNTS THAT DID NOT MEET REGULATORY REQUIREMENT

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person BANK OF MAHARASHTRA
  DID NOT ENSURE MINIMUM OUTSTANDING ‘LOAN COMPONENT’ AT LEAST, SPECIFIED PERCENTAGE OF SANCTIONED FUND BASED WORKING CAPITAL LIMIT FOR CERTAIN BORROWERS

DID NOT IMPLEMENT FRAUD RISK MANAGEMENT SYSTEM ACROSS ALL DELIVERY CHANNELS

ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS

ALLOWED OPERATIONS IN CERTAIN SMALL ACCOUNTS THAT DID NOT MEET REGULATORY REQUIREMENT   		IMPOSED PENALTY RS.1,27,20,000

08-AUG-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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