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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 IMPLEMENT CONTROL MEASURES FOR ATMS RELATING TO END TO END ENCRYPTION OF COMMUNICATION BETWEEN ATM TERMINAL/PC AND ATM SWITCH, WITHIN THE TIMELINES PRESCRIBED

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person BANK OF MAHARASHTRA
  SANCTIONED TERM LOAN TO A CORPORATION (I) IN LIEU OF OR TO SUBSTITUTE BUDGETARY RESOURCES ENVISAGED FOR CERTAIN PROJECTS (II) 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 (III) THE REPAYMENT/SERVICING OF WHICH WAS MADE OUT OF BUDGETARY RESOURCES

DID NOT IMPLEMENT CONTROL MEASURES FOR ATMS RELATING TO END TO END ENCRYPTION OF COMMUNICATION BETWEEN ATM TERMINAL/PC AND ATM SWITCH, WITHIN THE TIMELINES PRESCRIBED   		IMPOSED PENALTY RS.1,45,00,000

22-JUN-2023 		 
2
History of entity/person INDIAN OVERSEAS BANK
  VIOLATED BANKING REGULATION ACT, 1949

CLASSIFIED BORROWED ACCOUNTS AS NPAS, LEADING TO SIGNIFICANT DIVERGENCE BETWEEN REPORTED AND ASSESSED NPAS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON SYSTEMICALLY IMPORTANT NON-DEPOSIT TAKING COMPANY AND DEPOSIT TAKING COMPANY RESERVE BANK OF INDIA DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2016

DID NOT IMPLEMENT CONTROL MEASURES FOR ATMS RELATING TO END TO END ENCRYPTION OF COMMUNICATION BETWEEN ATM TERMINAL/PC AND ATM SWITCH, WITHIN THE TIMELINES PRESCRIBED   		IMPOSED PENALTY RS.2,20,00,000

29-MAY-2023 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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