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

PRIVATE BANKS: SANCTIONED TERM LOAN TO A PSU FOR FINANCING INFRASTRUCTURE PROJECTS (I) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS WERE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS AND (II) REPAYMENT/SERVICING OF TERM LOANS WAS MADE OUT OF BUDGETARY RESOURCES

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person IDFC FIRST BANK LTD.
  SANCTIONED TERM LOAN TO A PSU FOR FINANCING INFRASTRUCTURE PROJECTS (I) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS WERE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS AND (II) REPAYMENT/SERVICING OF TERM LOANS WAS MADE OUT OF BUDGETARY RESOURCES   IMPOSED PENALTY RS.1,00,00,000

27-MAR-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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