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Regulatory actions in Chronological Order

REGULATORY ACTIONS IN CHRONOLOGICAL ORDER

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

ENTITY

S.
No.

DATE OF ORDER

ENTITY

PERSON

COMPETENT AUTHORITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

06-MAY-2024

THOOTHUKUDI DISTRICT CENTRAL CO-OPERATIVE BANK LTD.

RBI

DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD

IMPOSED PENALTY RS.50,000

06-MAY-2024

29-APR-2024

ACEMONEY (INDIA) LTD.

RBI

DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1934

CANCELLED CERTIFICATE OF REGISTRATION

29-APR-2024

29-APR-2024

SATARA SAHAKARI BANK LTD.,THE

RBI

ALLOWED REFUND OF SHARE CAPITAL TO ITS MEMBERS, DESPITE ITS LAST ASSESSED CRAR (CAPITAL TO RISK (WEIGHTED) ASSETS RATIO) BEING BELOW 9%

IMPOSED PENALTY RS.2,00,000

29-APR-2024

26-APR-2024

UDGIR URBAN CO-OPERATIVE BANK LTD.,THE

RBI

SANCTIONED AND/OR RENEWED LOAN TO A RELATIVE OF ONE OF ITS DIRECTORS

IMPOSED PENALTY RS.1,00,000

26-APR-2024

24-APR-2024

KOTAK MAHINDRA BANK LTD.

RBI

DID NOT ADHERE TO IT INVENTORY MANAGEMENT, PATCH &CHANGE MANAGEMENT, USER ACCESS MANAGEMENT, VENDOR RISK MANAGEMENT, DATA SECURITY &DATA LEAK PREVENTION STRATEGY, BUSINESS CONTINUITY AND DISASTER RECOVERY RIGOUR & DRILL ETC.

DIRECTED TO CEASE AND DESIST FROM ONBOARDING OF NEW CUSTOMERS THROUGH ONLINE AND MOBILE BANKING CHANNELS

DIRECTED TO CEASE AND DESIST FROM ISSUING FRESH CREDIT CARDS

24-APR-2024

23-APR-2024

KONARK URBAN CO-OPERATIVE BANK LTD.,THE

RBI

DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1949

RESTRAINED FROM GRANTING OR RENEWING ANY LOAN /ADVANCES, MAKE ANY INVESTMENT, INCUR ANY LIABILITIES INCLUDING BORROWAL OF FUNDS AND ACCEPTANCE OF FRESH DEPOSITS, DISBURSE OR AGREE TO DISBURSE ANY PAYMENT WHETHER IN DISCHARGE OF ITS LIABILITIES AND OBLIGATIONS OR OTHERWISE, ENTER INTO ANY COMPROMISE OR ARRANGEMENT AND SELL, TRANSFER OR OTHERWISE DISPOSE OF ANY OF ITS PROPERTIES OR ASSETS FROM 23-APR-2024 TO 22-OCT-2024

23-APR-2024

23-APR-2024

LOKMANGAL CO-OPERATIVE BANK LTD.

RBI

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

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF �KNOW YOUR CLIENTS� OF CUSTOMERS AS PER RISK CATEGORISATION

IMPOSED PENALTY RS.5,00,000

23-APR-2024

17-APR-2024

VAISH CO-OPERATIVE ADARSH BANK LTD.,THE

RBI

DID NOT ALLOCATE UNIQUE CUSTOMER IDENTIFICATION CODE (UCIC)

IMPOSED PENALTY RS.1,00,000

17-APR-2024

16-APR-2024

CENTRAL CO-OPERATIVE BANK LTD.,THE

RBI

DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD

IMPOSED PENALTY RS.2,00,000

16-APR-2024

16-APR-2024

CHITRADURGA DISTRICT CO-OPERATIVE CENTRAL BANK LTD.,THE

RBI

DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD

IMPOSED PENALTY RS.50,000

16-APR-2024

16-APR-2024

RAJKOT NAGRIK SAHAKARI BANK LTD.,THE

RBI

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PROHIBITING LOANS & ADVANCES TO DIRECTORS & THEIR RELATIVES AND FIRMS/COMPANIES/CONCERNS IN WHICH THEY ARE INTERESTED

OPENED SEVERAL SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF INELIGIBLE ENTITIES

LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCES IN DORMANT/INOPERATIVE SAVING BANK ACCOUNTS AND/OR CURRENT DEPOSIT ACCOUNTS

IMPOSED PENALTY RS.43,30,000

16-APR-2024

15-APR-2024

NABFINS LTD.

RBI

ADOPTED RESTRICTIVE PRACTICE OF FORCING CUSTOMERS TO GO IN ONLY FOR A PARTICULAR INSURANCE COMPANY IN RESPECT OF ASSETS FINANCED BY IT

IMPOSED PENALTY RS.10,00,000

15-APR-2024

15-APR-2024

NATIONAL URBAN CO-OPERATIVE BANK LTD.

RBI

DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1949

15-APR-2024

PANCHKULA URBAN CO-OPERATIVE BANK LTD.,THE

RBI

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRUDENTIAL INTER-BANK (GROSS) EXPOSURE LIMITS AND/OR INTER-BANK COUNTER PARTY EXPOSURE LIMITS

IMPOSED PENALTY RS.3,00,000

15-APR-2024

15-APR-2024

SARVODAYA CO-OPERATIVE BANK LTD.

RBI

DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1949

12-APR-2024

SAMARTH SAHAKARI BANK LTD.

RBI

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON MAXIMUM LIMITS ON UNSECURED ADVANCES/LOANS

IMPOSED PENALTY RS.50,000

12-APR-2024

10-APR-2024

INDIRA MAHILA SAHAKARI BANK LTD.

RBI

SANCTIONED LOANS TO NOMINAL MEMBERS WHERE LOAN AMOUNT IN EACH CASE EXCEEDED THE APPLICABLE CEILING

IMPOSED PENALTY RS.75,000

10-APR-2024

10-APR-2024

KANGRA CO-OPERATIVE BANK LTD.,THE

RBI

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON BASIC CYBER SECURITY FRAMEWORK AND/OR COMPREHENSIVE CYBER SECURITY FRAMEWORK FOR PRIMARY (URBAN) CO-OPERATIVE BANKS

IMPOSED PENALTY RS.5,00,000

10-APR-2024

09-APR-2024

ODISHA GRAMYA BANK

RBI

DID NOT CLASSIFY CERTAIN LOAN ACCOUNTS AS NON-PERFORMING ASSETS (NPAS) RESULTING INTO DIVERGENCE IN ASSET CLASSIFICATION OF LOAN ACCOUNTS

IMPOSED PENALTY RS.1,50,000

09-APR-2024

08-APR-2024

RAJ LAXMI MAHILA URBAN CO-OPERATIVE BANK LTD.,THE

RBI

SANCTIONED FRESH LOANS AND ADVANCES TO SINGLE BORROWERS IN EXCESS OF 50% OF APPLICABLE REGULARITY LIMITS

IMPOSED PENALTY RS.5,00,000

08-APR-2024

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