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

NATIONALISED BANKS: DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON COMBATING OF FINANCING OF TERRORISM (CFT)/OBLIGATIONS OF BANKS UNDER PREVENTION OF MONEY LAUNDERING ACT (PMLA), 2002

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person BANK OF INDIA
  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

DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) DIRECTIVES/INSTRUCTIONS/GUIDELINES

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON COMBATING OF FINANCING OF TERRORISM (CFT)/OBLIGATIONS OF BANKS UNDER PREVENTION OF MONEY LAUNDERING ACT (PMLA), 2002

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DEPOSITOR EDUCATION AND AWARENESS FUND SCHEME, 2014

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS   		IMPOSED PENALTY RS.4,00,00,000

07-JUN-2021 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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