|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
121
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
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 FROM 24-APR-2024
DIRECTED TO CEASE AND DESIST FROM ISSUING FRESH CREDIT CARDS FROM 24-APR-2024
24-APR-2024
|
RBI VIDE ITS ORDER DATED 12/02/2025 HAD LIFTED SUPERVISORY RESTRICTIONS IMPOSED VIDE ITS ORDER DATED 24/04/2024
|
|
122
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
DID NOT CARRY OUT ANNUAL REVIEW/DUE DILIGENCE OF SERVICE PROVIDER
DID NOT ENSURE THAT CUSTOMERS ARE NOT CONTACTED AFTER 7 PM AND BEFORE 7 AM
DID NOT PAY INTEREST TO OVERDUE TERM DEPOSITS FROM THE DATE OF MATURITY TILL THE DATE OF REPAYMENT
LEVIED FORECLOSURE CHARGES DESPITE THERE WAS NO CLAUSE IN LOAN AGREEMENT FOR LEVY OF PREPAYMENT PENALTY ON LOANS RECALLED/FORECLOSURE INITIATED BY BANK
|
IMPOSED PENALTY RS.3,95,00,000 FROM 17-OCT-2023
17-OCT-2023
|
|
|
123
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRANSFER OF UNCLAIMED DEPOSITS TO DEPOSITOR EDUCATION AND AWARENESS FUND UNDER SECTION 26(A) OF BANKING REGULATION, ACT 1949 IBID
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CUSTOMER PROTECTION–LIMITING LIABILITY OF CUSTOMERS IN UNAUTHORISED ELECTRONIC BANKING TRANSACTIONS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LOANS AND ADVANCES–STATUTORY AND OTHER RESTRICTIONS
|
IMPOSED PENALTY RS.1,05,00,000 FROM 29-JUN-2022
29-JUN-2022
|
|
|
124
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
DID NOT SUBMIT DETAILS OF SHAREHOLDING OF PROMOTERS & PROPOSED COURSE OF ACTION/PLANS/STRATEGY TO COMPLY WITH PERMITTED TIMELINE FOR DILUTION OF PROMOTER SHAREHOLDING
|
IMPOSED PENALTY RS.2,00,00,000 FROM 06-JUN-2019
06-JUN-2019
|
|
|
125
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
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 ANTI MONEY LAUNDERING (AML) DIRECTIVES/INSTRUCTIONS/GUIDELINES
|
IMPOSED PENALTY RS.20,00,000 FROM 04-FEB-2019
04-FEB-2019
|
|
|
126
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
DID NOT ADHERE TO INSTRUCTIONS OF RBI ON REPORTING REQUIREMENTS OF FOREIGN EXCHANGE MANAGEMENT ACT, 1999 (FEMA)
|
IMPOSED PENALTY RS.10,000 FROM 26-APR-2017
26-APR-2017
|
|
|
127
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN MATTER OF DECCAN CHRONICLE HOLDINGS LTD.
|
IMPOSED PENALTY RS.10,00,000 FROM 25-JUL-2014
25-JUL-2014
|
|
|
128
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
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.1,50,10,000 FROM 15-JUL-2013
15-JUL-2013
|
|
|
129
|
|
|
KOTAK MAHINDRA BANK LTD.
|
|
|
DID NOT ADHERE TO INSTRUCTIONS OF RBI ON DERIVATIVES, SUCH AS FAILURE TO CARRY OUT DUE DILIGENCE IN REGARD TO SUITABILITY OF PRODUCTS, SELLING DERIVATIVE PRODUCTS TO USERS NOT HAVING RISK MANAGEMENT POLICIES AND NOT VERIFYING UNDERLYING/ADEQUACY OF UNDERLYING AND ELIGIBLE LIMITS UNDER PAST PERFORMANCE ROUTE
|
IMPOSED PENALTY RS.15,00,000 FROM 26-APR-2011
26-APR-2011
|
|
|
130
|
|
|
LAKSHMI VILAS BANK LTD.,THE
|
|
|
EXTREMELY UNSATISFACTORY FINANCIAL POSITION
|
ORDERED OF MORATORIUM FROM 17-NOV-2020
17-NOV-2020
|
|
|
131
|
|
|
LAKSHMI VILAS BANK LTD.,THE
|
|
|
EXTREMELY UNSATISFACTORY FINANCIAL POSITION
|
SUPERSEDED BOARD OF DIRECTORS FROM 17-NOV-2020 TO 16-DEC-2020
17-NOV-2020
|
|
|
132
|
|
|
LAKSHMI VILAS BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) NORMS AND FRAUDS
|
IMPOSED PENALTY RS.1,00,00,000 FROM 14-OCT-2019
14-OCT-2019
|
|
|
133
|
|
|
LAKSHMI VILAS BANK LTD.,THE
|
|
|
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
|
|
|
134
|
|
|
NAINITAL BANK LTD.,THE
|
|
|
DID NOT BENCHMARK CERTAIN FLOATING RATE LOANS EXTENDED TO MSMES TO EXTERNAL BENCHMARK RATE
COLLECTED FIX PENALTY FOR SHORTFALL IN MAINTENANCE OF MINIMUM BALANCE IN SAVING BANK ACCOUNTS INSTEAD OF PROPORTIONATE TO THE EXTENT OF SHORTFALL
|
IMPOSED PENALTY RS.61,40,000 FROM 12-FEB-2025
12-FEB-2025
|
|
|
135
|
|
|
NAINITAL BANK LTD.,THE
|
|
|
DID NOT ADHERE TO PRUDENTIAL DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) AND PROVISIONING PERTAINING TO ADVANCES-DIVERGENCE IN NPA ACCOUNTS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON “RESERVE BANK OF INDIA (FRAUD CLASSIFICATION AND REPORTING BY COMMERCIAL BANKS AND SELECT FIS) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2016”
|
IMPOSED PENALTY RS.56,00,000 FROM 28-OCT-2021
28-OCT-2021
|
|
|
136
|
|
|
NAINITAL BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON FULLY AUTOMATE NPA IDENTIFICATION PROCESS
|
IMPOSED PENALTY RS.1,00,00,000 FROM 06-MAY-2019
06-MAY-2019
|
|
|
137
|
|
|
NEDUNGADI BANK LTD.,THE
|
|
|
DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1934
|
MERGER WITH ANOTHER BANK FROM 01-FEB-2003
01-FEB-2003
|
|
|
138
|
|
|
NEDUNGADI BANK LTD.,THE
|
|
|
DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1934
|
ORDERED OF MORATORIUM FROM 02-NOV-2002 TO 01-FEB-2003
02-NOV-2002
|
|
|
139
|
|
|
NORTH EAST SMALL FINANCE BANK LTD.
|
|
|
CLASSIFIED BORROWED ACCOUNTS AS NPAS, LEADING TO SIGNIFICANT DIVERGENCE BETWEEN REPORTED AND ASSESSED NPAS
MADE PILLAR 3 DISCLOSURES IN ITS ANNUAL REPORT AND WEBSITE
|
IMPOSED PENALTY RS.39,50,000 FROM 30-JAN-2023
30-JAN-2023
|
|
|
140
|
|
|
RATNAKAR BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI IN MATTER OF DECCAN CHRONICLE HOLDINGS LTD.
|
IMPOSED PENALTY RS.5,00,000 FROM 25-JUL-2014
25-JUL-2014
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
|
|
|
|
|
|
Page
7
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