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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 12-JAN-2026

CO-OPERATIVE BANKS: DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
21
History of entity/person SVC CO-OPERATIVE BANK LTD.
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON INTEREST RATE ON DEPOSITS

DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD   		IMPOSED PENALTY RS.37,50,000 FROM 28-JUN-2021

28-JUN-2021 		 
22
History of entity/person THOOTHUKUDI DISTRICT CENTRAL CO-OPERATIVE BANK LTD.
  DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD   IMPOSED PENALTY RS.50,000 FROM 06-MAY-2024

06-MAY-2024 		 
23
History of entity/person VASAI VIKAS SAHAKARI BANK LTD.
  DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD   IMPOSED PENALTY RS.20,00,000 FROM 29-SEP-2022

29-SEP-2022 		 
24
History of entity/person ZOROASTRIAN CO-OPERATIVE BANK LTD.
  LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PAYMENT OF INTEREST ON BALANCE AMOUNTS LYING IN CURRENT ACCOUNTS OF DECEASED INDIVIDUAL DEPOSITORS/SOLE PROPRIETORSHIP CONCERNS WHILE MAKING PAYMENTS TO CLAIMANTS

DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD   		IMPOSED PENALTY RS.43,30,000 FROM 06-FEB-2024

06-FEB-2024 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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