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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 28-AUG-2025

PRIVATE BANKS: ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person AXIS BANK LTD.
  OPENED SEVERAL SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF INELIGIBLE ENTITIES

ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS

OBTAINED COLLATERAL SECURITY FOR AGRICULTURAL LOANS UPTO RS.1.60 LAC IN CERTAIN CASES

A WHOLLY OWNED SUBSIDIARY OF THE BANK UNDERTOOK BUSINESS OF TECHNOLOGY SERVICE PROVIDER, WHICH WAS NOT PERMISSIBLE BUSINESS THAN BE UNDERTAKEN BY A BANKING COMPANY   		IMPOSED PENALTY RS.1,91,00,000

03-SEP-2024 		 
2
History of entity/person HDFC BANK LTD.
  DID NOT CATEGORIZE CUSTOMERS AS LOW, MEDIUM OR HIGH RISK CATEGORY

ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS   		IMPOSED PENALTY RS.75,00,000

24-MAR-2025 		 
3
History of entity/person RBL BANK LTD.
  DID NOT OBTAIN PRESCRIBED OFFICIALLY VALID DOCUMENT (OVD) AT THE TIME OF OPENING OF CERTAIN CREDIT CARD ACCOUNTS

ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS   		IMPOSED PENALTY RS.61,40,000

19-NOV-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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