|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
121
|
|
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
|
|
|
122
|
|
|
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
|
|
|
123
|
|
|
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
|
|
|
124
|
|
|
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
|
|
|
125
|
|
|
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
|
|
|
126
|
|
|
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
|
|
|
127
|
|
|
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
|
|
|
128
|
|
|
RATNAKAR 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.50,00,000 FROM 15-JUL-2013
15-JUL-2013
|
|
|
129
|
|
|
RBL BANK LTD.
|
|
|
DID NOT OBTAIN PRESCRIBED OFFICIALLY VALID DOCUMENT (OVD) AT THE TIME OF OPENING OF CERTAIN CREDIT CARD ACCOUNTS
ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS
|
IMPOSED PENALTY RS.61,40,000 FROM 19-NOV-2024
19-NOV-2024
|
|
|
130
|
|
|
RBL BANK LTD.
|
|
|
DID NOT OBTAIN ANNUAL DECLARATION IN FORM B FROM ONE OF MAJOR SHAREHOLDERS
FURNISHED CERTIFICATES TO RBI REGARDING CONTINUANCE OF 'FIT AND PROPER’ STATUS OF ONE OF MAJOR SHAREHOLDER
|
IMPOSED PENALTY RS.64,00,000 FROM 28-SEP-2023
28-SEP-2023
|
|
|
131
|
|
|
RBL BANK LTD.
|
|
|
DID NOT COMMUNICATE DECISION OF ITS INTERNAL OMBUDSMAN (IO) PROPERLY
DID NOT ENSURE APPROPRIATE BEHAVIOR OF RECOVERY AGENTS WITH SOME OF DELINQUENT BORROWERS AND DID NOT ENSURE A TAPE RECORDING OF THE CONTENT/TEXT OF THE CALLS MADE BY THE RECOVERY AGENTS
DID NOT ENSURE THAT THE PRE-EMPLOYMENT POLICE VERIFICATION WAS CARRIED OUT FOR RECOVERY AGENTS ENGAGED BY IT
DID NOT ENSURE THAT THE RECOVERY AGENTS ENGAGED BY BANK EITHER DIRECTLY OR THROUGH RECOVERY AGENCIES HAD COMPLETED TRAINING COURSE FOR DIRECT RECOVERY AGENTS AND OBTAINED CERTIFICATE FROM INDIAN INSTITUTE OF BANKING & FINANCE
PERSISTENT/REPEAT COMPLAINTS ABOUT HARASSMENT OF CUSTOMERS DUE TO RECOVERY AND COLLECTION METHODS A ADOPTED BY THE COMPANY
|
IMPOSED PENALTY RS.2,27,25,000 FROM 06-MAR-2023
06-MAR-2023
|
|
|
132
|
|
|
RBL BANK LTD.
|
|
|
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
DID NOT ADHERE TO DIRECTIVES ON COMPOSITION OF BOARD OF DIRECTORS VIOLATING SECTION 10A(2)(B) OF RBI ACT.
|
IMPOSED PENALTY RS.2,00,00,000 FROM 27-SEP-2021
27-SEP-2021
|
|
|
133
|
|
|
RBL 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 OF RISK CATEGORIZATION OF ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS ON MONITORING OF TRANSACTIONS IN CUSTOMER ACCOUNTS
DID NOT ADHERE TO INSTRUCTIONS TO FILE STRS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF FEMA
|
IMPOSED PENALTY RS.1,00,00,000 FROM 27-JUL-2016
27-JUL-2016
|
|
|
134
|
|
|
SBI COMMERCIAL & INTERNATIONAL 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
VIOLATED DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON IPO FINANCING
|
IMPOSED PENALTY RS.10,00,000 FROM 25-APR-2007
25-APR-2007
|
|
|
135
|
|
|
SBM BANK (INDIA) LTD.
|
|
|
ENGAGED BUSINESS CORRESPONDENTS FOR ESTABLISHING ACCOUNT-BASED RELATIONSHIP WITH CUSTOMERS FROM CERTAIN REGIONS, NOT ACCEDED BY RBI
|
IMPOSED PENALTY RS.88,70,000 FROM 10-APR-2024
10-APR-2024
|
|
|
136
|
|
|
SOUTH INDIAN BANK LTD.,THE
|
|
|
LEVIED PENAL CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE IN SB ACCOUNTS WITHOUT NOTIFYING CUSTOMERS
MARKED LIEN AGAINST CERTAIN NRE (NON-RESIDENT EXTERNAL) SAVINGS DEPOSITS
|
IMPOSED PENALTY RS.59,20,000 FROM 08-NOV-2024
08-NOV-2024
|
|
|
137
|
|
|
SOUTH INDIAN BANK LTD.,THE
|
|
|
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
|
|
|
138
|
|
|
SOUTH INDIAN BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON GUARANTEES AND CO-ACCEPTANCES
|
IMPOSED PENALTY RS.10,00,000 FROM 13-JUN-2019
13-JUN-2019
|
|
|
139
|
|
|
SOUTH INDIAN BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON INCOME RECOGNITION AND ASSET CLASSIFICATION (IRAC) NORMS AND FRAUDS
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 OF RBI ON TREASURY FUNCTION AND DEFICIENCIES IN ITS COMPLIANCE FUNCTION & COMPLIANCE CULTURE
|
IMPOSED PENALTY RS.5,00,00,000 FROM 14-MAY-2018
14-MAY-2018
|
|
|
140
|
|
|
SURYODAY SMALL FINANCE LTD.
|
|
|
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.57,75,000 FROM 20-JUL-2022
20-JUL-2022
|
|
|
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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