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

NATIONALISED BANKS: OPENED CURRENT ACCOUNT AND PROVIDED BILL DISCOUNTING FACILITIES TO ACCOUNT HOLDERS WITHOUT HAVING ANY BORROWING FACILITY WITH THE BANK RESULTING IN SIPHONING OF FUNDS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person UCO BANK
  OPENED CURRENT ACCOUNT AND PROVIDED BILL DISCOUNTING FACILITIES TO ACCOUNT HOLDERS WITHOUT HAVING ANY BORROWING FACILITY WITH THE BANK RESULTING IN SIPHONING OF FUNDS

DID NOT OBTAIN NO OBJECTION CERTIFICATE (NOC) FROM BANKS WHICH HAD SANCTIONED REGULAR CREDIT FACILITIES TO BENEFICIARIES   		IMPOSED PENALTY RS.1,00,00,000

28-JUL-2016 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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