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S.No.
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ENTITY |
PERSONS |
REGULATORY CHARGES
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REGULATORY ACTION(S) / DATE OF ORDER
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FURTHER DEVELOPMENTS
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1
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BANK OF AMERICA,N.A.
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON REPORTING REQUIREMENTS UNDER LIBERALISED REMITTANCE SCHEME OF FEMA,1999
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IMPOSED PENALTY RS.10,000
30-NOV-2023
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2
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BANK OF AMERICA,N.A.
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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
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IMPOSED PENALTY RS.1,00,00,000
25-FEB-2019
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3
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BANK OF AMERICA,N.A.
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DID NOT ADHERE TO INSTRUCTIONS OF RBI ON REPORTING REQUIREMENTS OF FOREIGN EXCHANGE MANAGEMENT ACT, 1999 (FEMA)
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IMPOSED PENALTY RS.10,000
21-DEC-2016
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4
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BANK OF AMERICA,N.A.
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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
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IMPOSED PENALTY RS.5,00,000
26-APR-2011
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5
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BANK OF BAHRAIN & KUWAIT B.S.C.
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DID NOT IMPLEMENT SYSTEM TO GENERATE ALERTS ON REAL TIME BASIS, INTEGRATE LOGS WITH CENTRALIZED MONITORING SOLUTION AND REVIEW ALERTS/LOGS
DID NOT IMPLEMENT MULTI FACTOR AUTHENTICATION TO ACCESS CRITICAL SERVERS
DID NOT DISALLOW ADMINISTRATIVE RIGHTS ON END POINTS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CYBER SECURITY FRAMEWORK IN BANKS
DID NOT IMPLEMENT APPROPRIATE SYSTEMS AND CONTROLS TO ALLOW, MANAGE AND MONITOR ACCESS TO CRITICAL SERVERS
DID NOT HAVE CYBER CRISIS MANAGEMENT PLAN
DID NOT ENABLE AUDIT LOGS FOR DATABASE AND OPERATING SYSTEM OF SERVERS
DID NOT IMPLEMENT SECURITY OPERATIONS CENTRE TO OBTAIN REAL-TIME/NEAR-REAL TIME INFORMATION AND INSIGHT INTO SECURITY POSTURE OF THE BANK
DID NOT IMPLEMENT SYSTEMS TO DETECT UNUSUAL AND UNAUTHORIZED, INTERNAL OF EXTERNAL ACTIVITIES IN DATABASE
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IMPOSED PENALTY RS.2,66,00,000
12-DEC-2022
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6
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BANK OF TOKYO MITSUBISHI LTD.
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DID NOT ADHERE TO INSTRUCTIONS OF RBI ON REPORTING REQUIREMENTS OF FOREIGN EXCHANGE MANAGEMENT ACT, 1999 (FEMA)
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IMPOSED PENALTY RS.10,000
21-DEC-2016
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7
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BARCLAYS BANK PLC
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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
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IMPOSED PENALTY RS.1,00,00,000
25-FEB-2019
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8
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BARCLAYS BANK PLC
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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
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IMPOSED PENALTY RS.15,00,000
26-APR-2011
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9
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BNP PARIBAS
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DID NOT ADOPT UNIFORM EXTERNAL BENCHMARK WITHIN THE SAME LOAN CATEGORY IN RESPECT OF CERTAIN LOANS
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IMPOSED PENALTY RS.31,80,000
02-SEP-2024
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10
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BNP PARIBAS
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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
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IMPOSED PENALTY RS.3,00,00,000
25-FEB-2019
|
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11
|
|
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BNP PARIBAS
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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
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IMPOSED PENALTY RS.10,00,000
26-APR-2011
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12
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CITIBANK N.A.
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DID NOT UNDERTAKE DUE DILIGENCE WHILE PROCESSING INWARD REMITTANCES FROM A FOREIGN CURRENCY ACCOUNT OPENED BY A CONSTITUENT
|
IMPOSED PENALTY RS.3,20,000
09-APR-2025
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13
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CITIBANK N.A.
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DID NOT ADHERE TO REPORTING OF TRANSACTIONS UNDERTAKEN UNDER THE LIBERALIZED REMITTANCE SCHEME
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IMPOSED PENALTY RS.36,28,000
21-MAR-2025
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14
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CITIBANK N.A.
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DELAY IN REPORTING OF CERTAIN BREACHES IN LARGE EXPOSURE LIMITS
DELAY IN UPLOADING RECTIFIED DATA PERTAINING TO CERTAIN SEGMENT F OF REJECTION REPORTS FROM CREDIT INFORMATION COMPANIES
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IMPOSED PENALTY RS.39,00,000
20-FEB-2025
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15
|
|
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CITIBANK N.A.
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRANSFER OF ELIGIBLE UNCLAIMED FUNDS TO DEPOSITOR EDUCATION AND AWARENESS FUND WITHIN PRESCRIBED PERIOD
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON PAYMENT OF REMUNERATION TO EMPLOYEES IN FORM OF COMMISSION
OUTSOURCED MONITORING AND DISPOSAL/CLOSURE (DECISION MAKING FUNCTION) OF AML (ANTI-MONEY LAUNDERING) ALERTS TO A GROUP COMPANY
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IMPOSED PENALTY RS.5,00,00,000
02-NOV-2023
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16
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CITIBANK N.A.
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON OBTAINING DECLARATION FROM CUSTOMERS ABOUT CREDIT FACILITIES ENJOYED WITH OTHER BANKS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON GRANTING NON-FUND BASED FACILITIES TO NON-CONSTITUENT BORROWERS
DID NOT VERIFY DATA AVAILABLE IN CRILC DATABASE
DID NOT OBTAIN NO-OBJECTION CERTIFICATE (NOC) FROM LENDING BANKS AT THE TIME OF OPENING CURRENT ACCOUNTS
NOT SUBMIT COMPLIANCE TO RISK ASSESSMENT FINDINGS
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IMPOSED PENALTY RS.4,00,00,000
08-JAN-2020
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17
|
|
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CITIBANK N.A.
|
|
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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
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IMPOSED PENALTY RS.4,00,00,000
25-FEB-2019
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18
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CITIBANK N.A.
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DEFICIENCIES IN COMPLIANCE WITH RBI INSTRUCTIONS ON 'FIT AND PROPER' CRITERIA FOR DIRECTORS OF BANKS
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IMPOSED PENALTY RS.3,00,00,000
11-JAN-2019
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19
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CITIBANK N.A.
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DID NOT ADHERE TO ANTI MONEY LAUNDERING (AML) DIRECTIVES/INSTRUCTIONS/GUIDELINES
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
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IMPOSED PENALTY RS.25,00,000
04-JUL-2011
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20
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CITIBANK N.A.
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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
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IMPOSED PENALTY RS.10,00,000
26-APR-2011
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The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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