| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
APPASAHEB BIRNALE SAHAKARI BANK LTD.
|
|
|
DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
DID NOT FILE NPO SECTOR TRANSACTION REPORT (NTRS)
|
WARNED & CAUTIONS TO EXERCISE IN FUTURE
13-SEP-2023
|
|
| 2 |
|
|
AXIS BANK LTD.
|
|
|
DID NOT REPORT CASH TRANSACTIONS AND/OR DELAY IN REPORTING CASH TRANSACTIONS REPORT
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.2,64,30,000
13-APR-2016
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018 |
| 3 |
|
|
AXIS BANK LTD.
|
|
|
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT ADDRESS ALERTS AND CLOSE THEM WITHIN REASONABLE PERIOD
DID NOT INVESTIGATE AND CLOSE ALERTS BASED ON APPLICATION OF MIND
DID NOT PROPERLY VERIFY THAT ACCUSED WAS AUTHORIZED TO ACT ON BEHALF OF NATIONAL SECURITY GUARD (NSG)
|
DIRECTED TO ADVISE TO IMPLEMENT STRINGENT PROCEDURES FOR SCREENING OF EMPLOYEES AS MANDATE BY RBI MASTER DIRECTION OF “KNOW YOUR CLIENTS”
DIRECTED TO PRIORITIZE PROMPT AND EFFICIENT RESPONSE TO REQUESTS FROM FIU-IND
DIRECTED TO PROVIDE CERTIFICATION WITHIN NINETY DAYS UNDER SIGNATURE OF DESIGNATED DIRECTOR
DIRECTED TO REVIEW ITS MECHANISM AND ENSURE THAT IMPROVEMENTS MADE TO ADDRESS THE OBSERVATION MADE IN SHOW CAUSE NOTICE
IMPOSED FINE RS.1,66,25,000
03-JUN-2024
|
|
| 4 |
|
|
BAJAJ FINANCE LTD.
|
|
|
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT FORMULATE AND IMPLEMENT ENHANCED DUE DILIGENCE MEASURES TO VERIFY THE CLIENTS IDENTITY TAKING INTO CONSIDERATION TYPE OF CLIENT, BUSINESS RELATIONSHIP, NATURE AND VALUE OF TRANSACTIONS BASED ON THE OVERALL MONEY LAUNDERING AND TERRORIST FINANCING RISKS INVOLVED
DID NOT CARRY OUT DETERMINATION OF ULTIMATE BENEFICIAL OWNERSHIP
DID NOT CARRY OUT KNOW YOUR CLIENTS (KYC) UPDATION BASED ON PERIODIC RISK ASSESSMENT
DID NOT CARRY OUT PRODUCT RISK ASSESSMENT AND TO PERFORM ENHANCED DUE DILIGENCE FOR CUSTOMERS
DID NOT FURNISH COMPLETE RESPONSE TO QUESTIONNAIRE FROM FIU-IND
|
IMPOSED FINE RS.3,00,000
WARNED/DIRECTED TO PAY DUE
28-MAR-2022
|
|
| 5 |
|
|
BANK OF BARODA
|
|
|
DELAY IN FILING OF SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
FILED IMPROPER SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
DELAY IN FILING OF ELECTRONIC FUND TRANSFER (EFTS) REPORTS
DID NOT CARRY OUT EFFECTIVE CUSTOMER DUE DILIGENCE VIOLATING SUB RULES (4), (7), (12) AND 9 OF RULES
DID NOT FILE ELECTRONICS FUND TRANSFER (EFTS) REPORTS
|
IMPOSED FINE RS.9,00,00,000
27-MAR-2018
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018 |
| 6 |
|
|
BULDANA URBAN CO-OPERATIVE CREDIT SOCIETY LTD.
|
|
|
DID NOT REPORT CASH TRANSACTIONS AND/OR DELAY IN REPORTING CASH TRANSACTIONS REPORT
DID NOT HAVE PROPER SYSTEM TO DETECT AND REPORT CASH TRANSACTION REPORTS (CTRS) AND/OR SUSPICIOUS TRANSACTIONS REPORTS (STRS)
|
IMPOSED FINE RS.6,20,000
01-AUG-2022
|
|
| 7 |
|
|
CHANDGAD URBAN CO-OPERATIVE BANK LTD.
|
|
|
DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
WARNED & CAUTIONS TO EXERCISE IN FUTURE
21-SEP-2023
|
|
| 8 |
|
|
DHULE & NANDURBAR JILHA SARKARI NOKARANCHI SAHAKARI BANK LTD.
|
|
|
DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.1,00,000
19-SEP-2023
|
|
| 9 |
|
|
DR.PANJABRAO DESHMUKH URBAN CO-OPERATIVE BANK LTD.
|
|
|
DID NOT REPORT CASH TRANSACTIONS AND/OR DELAY IN REPORTING CASH TRANSACTIONS REPORT
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT CASH TRANSACTIONS
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.10,25,000
31-OCT-2022
|
|
| 10 |
|
|
FINO PAYMENTS BANK LTD.
|
|
|
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.5,00,000
25-JAN-2024
|
|
| 11 |
|
|
JAMMU & KASHMIR BANK LTD.,THE
|
|
|
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT CONDUCT ROBUST KNOW YOUR CLIENTS (KYC) AND DUE DILIGENCE OF CUSTOMER’S ACCOUNT
|
IMPOSED FINE RS.3,00,000
01-NOV-2022
|
|
| 12 |
|
|
KONARK URBAN CO-OPERATIVE BANK LTD.,THE
|
|
|
DID NOT PUT IN PLACE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS REPORTS (STRS)
|
IMPOSED FINE RS.1,00,000
27-OCT-2020
|
|
| 13 |
|
|
LOKMANYA MULTIPURPOSE CO-OPERATIVE SOCIETY
|
|
|
DID NOT HAVE PROPER SYSTEM TO DETECT AND REPORT CASH TRANSACTION REPORTS (CTRS) AND/OR SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT REPORT CASH TRANSACTIONS AND/OR DELAY IN REPORTING CASH TRANSACTIONS REPORT
FILED INVALID LARGE NUMBER OF CASH TRANSACTIONS REPORT (CTRS)
|
IMPOSED FINE RS.1,00,000
DIRECTED TO RE-EXAMINE SYSTEM FOR DETECTING AND REPORTING SUSPICIOUS TRANSACTIONS
31-OCT-2022
|
|
| 14 |
|
|
MAHAMEDHA URBAN CO-OPERATIVE BANK LTD.
|
|
|
DID NOT REPORT CASH TRANSACTIONS AND/OR DELAY IN REPORTING CASH TRANSACTIONS REPORT
|
IMPOSED FINE RS.97,00,000
08-APR-2016
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018 |
| 15 |
|
|
MEHSANA URBAN CO-OPERATIVE BANK LTD.,THE
|
|
|
DID NOT HAVE EFFECTIVE MECHANISM TO DETECT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.1,00,000
29-JAN-2021
|
|
| 16 |
|
|
MYSORE SILK CLOTH MERCHANT CO-OPERATIVE BANK LTD.
|
|
|
DID NOT REPORT CASH TRANSACTIONS AND/OR DELAY IN REPORTING CASH TRANSACTIONS REPORT
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.2,35,000
03-NOV-2022
|
|
| 17 |
|
|
NAGRIK SAHAKARI BANK LTD.
|
|
|
DID NOT PUT IN PLACE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT ALL CASH TRANSACTIONS WHERE FORGED OR COUNTERFEIT CURRENCY NOTES OR BANK NOTES WERE USED AS GENUINE VIOLATING SECTIONS 12(1) (A) AND (B) READ WITH RULES 3(1) (C), 7(2), 7(3) AND 8(1) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.1,00,000
27-OCT-2020
|
|
| 18 |
|
|
PATAN CO-OPERATIVE BANK LTD.
|
|
|
DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.25,000
DIRECTED TO ENSURE SUITABLE TRAINING IN AML/CFT FOR THE CONCERNED STAFF
13-SEP-2023
|
|
| 19 |
|
|
PAYTM PAYMENTS BANK LTD.
|
|
|
DID NOT FILE SUSPICIOUS TRANSACTION REPORTS IN RESPECT OF THIRTY FOUR BENEFICIARY ACCOUNTS IN THE MANNER AND WITHIN TIMELINES
DID NOT PUT IN PLACE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT EXERCISE ONGOING DUE DILIGENCE WITH REFERENCE TO THE ACCOUNTS OF THIRTY FOUR BENEFICIARIES WHICH RECEIVED PROCEEDS FROM THE PAYOUT ACCOUNTS
DID NOT EXERCISE ONGOING DUE DILIGENCE WITH RESPECT TO PAYOUT SERVICE
DID NOT SATISFY THE REQUIREMENTS WITH RESPECT TO RELIANCE ON THIRD-PARTY KYC BY RELYING ON A NON-COMPLIANT/UNREGULATED ENTITY
|
IMPOSED FINE RS.5,49,00,000
01-MAR-2024
|
|
| 20 |
|
|
RANI LAXMIBAI URBAN CO-OPERATIVE BANK LTD.
|
|
|
DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)
|
IMPOSED FINE RS.1,00,000
DIRECTED TO ENSURE SUITABLE TRAINING IN AML/CFT FOR THE CONCERNED STAFF
12-SEP-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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