|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
101
|
|
ORIENTAL BANK OF COMMERCE
|
|
|
DID NOT ADHERE TO CODE OF CONDUCT FOR OPENING AND OPERATING CURRENT ACCOUNTS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DISCOUNTING/REDISCOUNTING OF BILLS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON END USE OF FUNDS-MONITORING AND DEPOSITS ON BALANCE SHEET DATE
|
IMPOSED PENALTY RS.1,00,00,000 FROM 31-JUL-2019
31-JUL-2019
|
|
|
102
|
|
|
ORIENTAL BANK OF COMMERCE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DIRECT CREATION OF PAYMENT MESSAGES IN SWIFT ENVIRONMENT
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON IMPLEMENTATION OF STRAIGHT THROUGH PROCESSING (STP) BETWEEN CBS/ACCOUNTING SYSTEM AND SWIFT SYSTEM
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI TO ENSURE THAT THE USERS ENTERING/PASSING/AUTHORIZING TRANSACTIONS IN CBS DIFFERENT FROM THOSE OPERATING IN SWIFT ENVIRONMENT
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INDEPENDENT RECONCILIATION OF LOGS GENERATED FROM SWIFT WITH CORRESPONDING ENTRY PASSED IN CBS/ACCOUNTING SYSTEM
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INTRODUCTION OF ADDITIONAL LAYER OF APPROVAL FOR ALL PAYMENT MESSAGES EXCEEDING PARTICULAR THRESHOLD
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON NOSTRO RECONCILIATION ON T+1/T+5 BASIS
|
IMPOSED PENALTY RS.2,00,00,000 FROM 25-FEB-2019
25-FEB-2019
|
|
|
103
|
|
|
ORIENTAL BANK OF COMMERCE
|
|
|
DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON MONITORING OF END USE OF FUNDS
DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON EXCHANGE OF INFORMATION WITH OTHER BANKS
DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON RESTRUCTURING OF ACCOUNTS
|
IMPOSED PENALTY RS.1,50,00,000 FROM 31-JAN-2019
31-JAN-2019
|
|
|
104
|
|
|
ORIENTAL BANK OF COMMERCE
|
|
|
ALLOWED OPERATIONS AND DID NOT CLOSE SEVERAL ACCOUNTS OPEN USING OTP BASED E-KYC IN NON-FACE-TO-FACE MODE, EVEN AFTER EXPIRY OF ONE YEAR WITHOUT CONDUCTING CUSTOMER DUE DILIGENCE PROCEDURE
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON KYC COMPLIANCE FOR WALK-IN CUSTOMERS INCLUDING FOR SALE OF THIRD PARTY PRODUCTS
DID NOT FILE CASH TRANSACTION REPORTS (CTRS) IN RESPECT OF SOME CASH TRANSACTIONS, SALE OF GOLD COINS FOR CASH BEYOND RS. 50,000
DID NOT ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS ON CLASSIFICATION OF ACCOUNTS AS ‘IN-OPERATIVE’/DORMANT AND LAPSES IN MONITORING OF TRANSACTIONS IN DORMANT ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS WHICH PROHIBITS ACCEPTANCE OF CASH ABOVE RS.50, 000 FOR SALE OF GOLD COINS AND ISSUE OF DEMAND DRAFTS ETC.
DID NOT ADHERE TO INSTRUCTIONS ON UPPER LIMIT FOR REMITTANCES UNDER LIBERALISED REMITTANCE SCHEME
DID NOT ADHERE TO INSTRUCTIONS ON UPPER LIMIT FOR REPATRIATION OF FUNDS FROM NON RESIDENT ORDINARY (NRO) ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS ON IMPORT OF GOLD ON CONSIGNMENT BASIS
|
IMPOSED PENALTY RS.2,00,00,000 FROM 15-JUL-2013
15-JUL-2013
|
|
|
105
|
|
|
PUNJAB & SIND BANK
|
|
|
DID NOT REPORT CERTAIN BORROWERS WITH NON-FUND BASED EXPOSURE OF RS.5 CRORE AND ABOVE TO CENTRAL REPOSITORY OF LARGE COMMON EXPOSURES (CRILC)
ALLOWED CERTAIN BASIC SAVINGS BANK DEPOSIT ACCOUNT HOLDERS TO ALSO OPEN SAVINGS BANK DEPOSIT ACCOUNTS
|
IMPOSED PENALTY RS.68,20,000 FROM 24-MAR-2025
24-MAR-2025
|
|
|
106
|
|
|
PUNJAB & SIND BANK
|
|
|
SANCTIONED TERM LOAN TO A CORPORATION (I) IN LIEU OF OR TO SUBSTITUTE BUDGETARY RESOURCES ENVISAGED FOR CERTAIN PROJECTS (II) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS WERE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS AND (III) THE REPAYMENT/SERVICING OF WHICH WAS MADE OUT OF BUDGETARY RESOURCES
|
IMPOSED PENALTY RS.1,00,00,000 FROM 03-JAN-2024
03-JAN-2024
|
|
|
107
|
|
|
PUNJAB & SIND BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRANSFER OF ELIGIBLE UNCLAIMED FUNDS TO DEPOSITOR EDUCATION AND AWARENESS FUND WITHIN PRESCRIBED PERIOD
|
IMPOSED PENALTY RS.1,00,00,000 FROM 21-SEP-2023
21-SEP-2023
|
|
|
108
|
|
|
PUNJAB & SIND BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON EXTERNAL BENCHMARK BASED LENDING
|
IMPOSED PENALTY RS.27,50,000 FROM 01-JUN-2022
01-JUN-2022
|
|
|
109
|
|
|
PUNJAB & SIND BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON REPORTING OF DATA ON CENTRAL REPOSITORY OF INFORMATION ON LARGE CREDITS (CRILC)
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LENDING TO NBFCS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON BANK FINANCE TO NBFCS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LOANS AND ADVANCES–STATUTORY AND OTHER RESTRICTIONS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON OPERATING GUIDELINES FOR SMALL FINANCE BANKS
|
IMPOSED PENALTY RS.1,00,00,000 FROM 06-JUL-2021
06-JUL-2021
|
|
|
110
|
|
|
PUNJAB & SIND BANK
|
|
|
DELAY IN REPORTING CYBER SECURITY INCIDENT
|
IMPOSED PENALTY RS.25,00,000 FROM 02-JUL-2021
02-JUL-2021
|
|
|
111
|
|
|
PUNJAB & SIND BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.1,00,00,000 FROM 31-JUL-2019
31-JUL-2019
|
|
|
112
|
|
|
PUNJAB & SIND BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON DIRECT CREATION OF PAYMENT MESSAGES IN SWIFT ENVIRONMENT
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON IMPLEMENTATION OF STRAIGHT THROUGH PROCESSING (STP) BETWEEN CBS/ACCOUNTING SYSTEM AND SWIFT SYSTEM
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI TO ENSURE THAT THE USERS ENTERING/PASSING/AUTHORIZING TRANSACTIONS IN CBS DIFFERENT FROM THOSE OPERATING IN SWIFT ENVIRONMENT
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INDEPENDENT RECONCILIATION OF LOGS GENERATED FROM SWIFT WITH CORRESPONDING ENTRY PASSED IN CBS/ACCOUNTING SYSTEM
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INTRODUCTION OF ADDITIONAL LAYER OF APPROVAL FOR ALL PAYMENT MESSAGES EXCEEDING PARTICULAR THRESHOLD
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON NOSTRO RECONCILIATION ON T+1/T+5 BASIS
|
IMPOSED PENALTY RS.1,00,00,000 FROM 25-FEB-2019
25-FEB-2019
|
|
|
113
|
|
|
PUNJAB & SIND BANK
|
|
|
ALLOWED OPERATIONS AND DID NOT CLOSE SEVERAL ACCOUNTS OPEN USING OTP BASED E-KYC IN NON-FACE-TO-FACE MODE, EVEN AFTER EXPIRY OF ONE YEAR WITHOUT CONDUCTING CUSTOMER DUE DILIGENCE PROCEDURE
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON KYC COMPLIANCE FOR WALK-IN CUSTOMERS INCLUDING FOR SALE OF THIRD PARTY PRODUCTS
DID NOT FILE CASH TRANSACTION REPORTS (CTRS) IN RESPECT OF SOME CASH TRANSACTIONS, SALE OF GOLD COINS FOR CASH BEYOND RS. 50,000
DID NOT ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS ON CLASSIFICATION OF ACCOUNTS AS ‘IN-OPERATIVE’/DORMANT AND LAPSES IN MONITORING OF TRANSACTIONS IN DORMANT ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS WHICH PROHIBITS ACCEPTANCE OF CASH ABOVE RS.50, 000 FOR SALE OF GOLD COINS AND ISSUE OF DEMAND DRAFTS ETC.
DID NOT ADHERE TO INSTRUCTIONS ON UPPER LIMIT FOR REMITTANCES UNDER LIBERALISED REMITTANCE SCHEME
DID NOT ADHERE TO INSTRUCTIONS ON UPPER LIMIT FOR REPATRIATION OF FUNDS FROM NON RESIDENT ORDINARY (NRO) ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS ON IMPORT OF GOLD ON CONSIGNMENT BASIS
|
IMPOSED PENALTY RS.2,50,00,000 FROM 15-JUL-2013
15-JUL-2013
|
|
|
114
|
|
|
PUNJAB NATIONAL BANK
|
|
|
LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCES IN DORMANT/INOPERATIVE SAVING BANK ACCOUNTS AND/OR CURRENT DEPOSIT ACCOUNTS
|
IMPOSED PENALTY RS.29,60,000 FROM 04-APR-2025
04-APR-2025
|
|
|
115
|
|
|
PUNJAB NATIONAL BANK
|
|
|
SANCTIONED WORKING CAPITAL DEMAND LOAN TO A CORPORATION AGAINST AMOUNTS RECEIVABLE FROM GOVERNMENT BY WAY OF SUBSIDIES/REFUNDS/REIMBURSEMENTS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRESERVATION OF RECORDS OF IDENTIFICATION OF CUSTOMERS AND/OR THEIR ADDRESSES
|
IMPOSED PENALTY RS.1,31,80,000 FROM 03-JUL-2024
03-JUL-2024
|
|
|
116
|
|
|
PUNJAB NATIONAL BANK
|
|
|
LEVIED SMS CHARGES IN CERTAIN ACCOUNTS DESPITE MAINTAINING JUNK MOBILE NUMBERS IN CORE BANKING SOLUTION (CBS)
LEVIED INTEREST FROM DISBURSEMENT DUE DATE INSTEAD OF ACTUAL DATE OF DISBURSEMENT
DID NOT SPECIFY INTEREST RESET DATE IN MCLR-LINKED LOANS
|
IMPOSED PENALTY RS.72,00,000 FROM 30-OCT-2023
30-OCT-2023
|
|
|
117
|
|
|
PUNJAB NATIONAL BANK
|
|
|
DEFICIENCIES IN REGULATORY COMPLIANCE
|
IMPOSED PENALTY RS.1,80,00,000 FROM 15-DEC-2021
15-DEC-2021
|
|
|
118
|
|
|
PUNJAB NATIONAL BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON REPORTING OF DATA ON CENTRAL REPOSITORY OF INFORMATION ON LARGE CREDITS (CRILC)
|
IMPOSED PENALTY RS.2,00,00,000 FROM 07-JUN-2021
07-JUN-2021
|
|
|
119
|
|
|
PUNJAB NATIONAL BANK
|
|
|
DID NOT ADHERE TO REGULATORY REQUIREMENTS ISSUED BY RBI
|
IMPOSED PENALTY RS.1,00,00,000 FROM 13-NOV-2020
13-NOV-2020
|
|
|
120
|
|
|
PUNJAB NATIONAL BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.50,00,000 FROM 31-JUL-2019
31-JUL-2019
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
|
|
|
|
|
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6
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9
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