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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 27-NOV-2025

CO-OPERATIVE BANKS: DID NOT ENABLE CUSTOMERS TO INSTANTLY RESPOND BY 'REPLY' TO SMS ALERTS TO NOTIFY OBJECTION TOWARDS UNAUTHORISED ELECTRONIC BANKING TRANSACTIONS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CHANASMA NAGRIK SAHAKARI BANK LTD.,THE
  DID NOT PROVIDE 24X7 ACCESS THROUGH MULTIPLE CHANNELS TO REPORT UNAUTHORISED ELECTRONIC TRANSACTIONS THAT HAD TAKEN PLACE AND/OR LOSS OR THEFT OF PAYMENT INSTRUMENT SUCH AS CARD ETC.

DID NOT ENABLE CUSTOMERS TO INSTANTLY RESPOND BY 'REPLY' TO SMS ALERTS TO NOTIFY OBJECTION TOWARDS UNAUTHORISED ELECTRONIC BANKING TRANSACTIONS   		IMPOSED PENALTY RS.1,00,000 FROM 31-JUL-2025

31-JUL-2025 		 
2
History of entity/person PANCHSHEEL MERCANTILE CO-OPERATIVE BANK LTD.,THE
  DID NOT ENABLE CUSTOMERS TO INSTANTLY RESPOND BY 'REPLY' TO SMS ALERTS TO NOTIFY OBJECTION TOWARDS UNAUTHORISED ELECTRONIC BANKING TRANSACTIONS   IMPOSED PENALTY RS.1,00,000 FROM 25-SEP-2025

25-SEP-2025 		 
3
History of entity/person PROGRESSIVE MERCANTILE CO-OPERATIVE BANK LTD.,THE
  CONDUCTED CONCURRENT AUDIT ON QUARTERLY INSTEAD OF CONDUCTING SIMULTANEOUS CHECK OF TRANSACTIONS

DELAY IN SUBMITTING THE AUDIT REPORTS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS

DID NOT ENABLE CUSTOMERS TO INSTANTLY RESPOND BY 'REPLY' TO SMS ALERTS TO NOTIFY OBJECTION TOWARDS UNAUTHORISED ELECTRONIC BANKING TRANSACTIONS   		IMPOSED PENALTY RS.3,00,000 FROM 08-SEP-2025

08-SEP-2025 		 
4
History of entity/person RANUJ NAGARIK SAHAKARI BANK LTD.,THE
  DID NOT ENSURE END-USE OF FUNDS WITH RESPECT TO CERTAIN LOANS SANCTIONED

DID NOT ENABLE CUSTOMERS TO INSTANTLY RESPOND BY 'REPLY' TO SMS ALERTS TO NOTIFY OBJECTION TOWARDS UNAUTHORISED ELECTRONIC BANKING TRANSACTIONS   		IMPOSED PENALTY RS.3,00,000 FROM 30-SEP-2025

30-SEP-2025 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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