|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
81
|
|
INDIAN BANK
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.1,00,00,000 FROM 30-NOV-2018
30-NOV-2018
|
|
|
82
|
|
|
INDIAN 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 SUBMIT CTR/STR IN RESPECT OF CASH TRANSACTIONS IN EXCESS OF RS.10 LAKH
DID NOT ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER 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 IMPORT OF GOLD ON CONSIGNMENT BASIS
DID NOT ADHERE TO INSTRUCTIONS ON PERMITTED CREDITS TO NON-RESIDENT ACCOUNTS
|
IMPOSED PENALTY RS.1,00,00,000 FROM 23-AUG-2013
23-AUG-2013
|
|
|
83
|
|
|
INDIAN OVERSEAS BANK
|
|
|
COLLECTED LOAN RELATED CHARGES IN CERTAIN PRIORITY SECTOR LOANS UPTO RS.25,000.00
|
IMPOSED PENALTY RS.31,80,000 FROM 29-SEP-2025
29-SEP-2025
|
|
|
84
|
|
|
INDIAN OVERSEAS BANK
|
|
|
OBTAINED COLLATERAL SECURITY FOR AGRICULTURAL LOANS UPTO RS.1.60 LAC IN CERTAIN CASES
OBTAINED COLLATERAL SECURITY FOR LOANS UP TO RS.10 LAC EXTENDED TO CERTAIN MICRO AND SMALL ENTERPRISES
|
IMPOSED PENALTY RS.63,60,000 FROM 17-APR-2025
17-APR-2025
|
|
|
85
|
|
|
INDIAN OVERSEAS 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
EXTENDED TERM LOANS TO A CORPORATION (A) WITHOUT UNDERTAKING DUE DILIGENCE ON THE VIABILITY AND BANKABILITY OF THE PROJECTS TO ENSURE THAT REVENUE STREAMS FROM THE PROJECTS ARE SUFFICIENT TO TAKE CARE OF THE DEBT SERVICING OBLIGATIONS (B) FAILED TO ENSURE THAT THE REPAYMENT/SERVICINGOF THE TERM LOANS WAS NOT MADE OUT OF BUDGETARY RESOURCES
|
IMPOSED PENALTY RS.1,00,00,000 FROM 31-OCT-2023
31-OCT-2023
|
|
|
86
|
|
|
INDIAN OVERSEAS BANK
|
|
|
VIOLATED BANKING REGULATION ACT, 1949
CLASSIFIED BORROWED ACCOUNTS AS NPAS, LEADING TO SIGNIFICANT DIVERGENCE BETWEEN REPORTED AND ASSESSED NPAS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON SYSTEMICALLY IMPORTANT NON-DEPOSIT TAKING COMPANY AND DEPOSIT TAKING COMPANY RESERVE BANK OF INDIA DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2016
DID NOT IMPLEMENT CONTROL MEASURES FOR ATMS RELATING TO END TO END ENCRYPTION OF COMMUNICATION BETWEEN ATM TERMINAL/PC AND ATM SWITCH, WITHIN THE TIMELINES PRESCRIBED
|
IMPOSED PENALTY RS.2,20,00,000 FROM 29-MAY-2023
29-MAY-2023
|
|
|
87
|
|
|
INDIAN OVERSEAS BANK
|
|
|
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”
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 EXTERNAL BENCHMARK BASED LENDING
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRUDENTIAL FRAMEWORK FOR RESOLUTION OF STRESSED ASSETS
|
IMPOSED PENALTY RS.57,50,000 FROM 24-JUN-2022
24-JUN-2022
|
|
|
88
|
|
|
INDIAN OVERSEAS 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
|
|
|
89
|
|
|
INDIAN OVERSEAS BANK
|
|
|
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.1,50,00,000 FROM 31-JUL-2019
31-JUL-2019
|
|
|
90
|
|
|
INDIAN OVERSEAS 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.3,00,00,000 FROM 25-FEB-2019
25-FEB-2019
|
|
|
91
|
|
|
INDIAN OVERSEAS BANK
|
|
|
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
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.1,50,00,000 FROM 31-JAN-2019
31-JAN-2019
|
|
|
92
|
|
|
INDIAN OVERSEAS 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
|
IMPOSED PENALTY RS.2,00,00,000 FROM 27-FEB-2018
27-FEB-2018
|
|
|
93
|
|
|
INDIAN OVERSEAS 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.3,00,20,000 FROM 15-JUL-2013
15-JUL-2013
|
|
|
94
|
|
|
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
|
|
|
95
|
|
|
ORIENTAL BANK OF COMMERCE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CLASSIFICATION AND REPORTING OF FRAUDS
|
IMPOSED PENALTY RS.1,50,00,000 FROM 31-JUL-2019
31-JUL-2019
|
|
|
96
|
|
|
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
|
|
|
97
|
|
|
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
|
|
|
98
|
|
|
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
|
|
|
99
|
|
|
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
|
|
|
100
|
|
|
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
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
|
|
|
|
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9
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