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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-JUL-2026

CO-OPERATIVE BANKS: DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person BIHAR STATE CO-OPERATIVE BANK LTD.,THE
  DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS

DELAY IN SUBMITTING STATUTORY RETURNS TO RBI

DELAY IN SUBMISSION OF STATUTORY/OFF-SITE SURVEILLANCE SYSTEM (OSS) RETURNS TO RBI AND/OR NABARD

DID NOT OBTAIN MEMBERSHIP OF THREE OUT OF FOUR CREDIT INFORMATION COMPANIES (CICS)

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON VIDEO BASED CUSTOMER IDENTIFICATION PROCESS (V-CIP) INFRASTRUCTURE TO PREVENT CONNECTIONS FROM IP ADDRESSES OUTSIDE INDIA   		IMPOSED PENALTY RS.60,20,000 FROM 05-JUN-2023

05-JUN-2023 		 
2
History of entity/person CITIZEN CO-OPERATIVE BANK LTD.,THE,NOIDA
  DID NOT ENSURE THAT PRIOR PERMISSION OF RBI WAS OBTAINED BY A PERSON BEFORE ISSUING/ALLOTTING SHARES TO HIM ALONG WITH HIS RELATIVES, BEYOND PERMISSIBLE LIMIT

DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS   		IMPOSED PENALTY RS.6,00,000 FROM 30-MAY-2025

30-MAY-2025 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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