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

PRIVATE BANKS: VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON IPO FINANCING

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CENTURION BANK OF PUNJAB LTD.
  ALLOWED OPERATIONS AND DID NOT CLOSE SEVERAL ACCOUNTS OPEN USING OTP BASED E-KYC IN NON-FACE-TO-FACE MODE, EVEN AFTER EXPIRY OF ONE YEAR WITHOUT CONDUCTING CUSTOMER DUE DILIGENCE PROCEDURE

VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON IPO FINANCING   		IMPOSED PENALTY RS.15,00,000

01-JUN-2006 		 
2
History of entity/person IDBI LTD.
  ALLOWED OPERATIONS AND DID NOT CLOSE SEVERAL ACCOUNTS OPEN USING OTP BASED E-KYC IN NON-FACE-TO-FACE MODE, EVEN AFTER EXPIRY OF ONE YEAR WITHOUT CONDUCTING CUSTOMER DUE DILIGENCE PROCEDURE

VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON IPO FINANCING

VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON OPENING OF ACCOUNTS INCLUDING JOINT ACCOUNTS   		IMPOSED PENALTY RS.5,00,000

21-AUG-2006 		 
3
History of entity/person SBI COMMERCIAL & INTERNATIONAL BANK LTD.
  ALLOWED OPERATIONS AND DID NOT CLOSE SEVERAL ACCOUNTS OPEN USING OTP BASED E-KYC IN NON-FACE-TO-FACE MODE, EVEN AFTER EXPIRY OF ONE YEAR WITHOUT CONDUCTING CUSTOMER DUE DILIGENCE PROCEDURE

VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON IPO FINANCING   		IMPOSED PENALTY RS.10,00,000

25-APR-2007 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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