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S.No.
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ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
1
|
|
GUJARAT MERCANTILE CO-OPERATIVE BANK LTD.
|
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI BY ALLOWING CASH WITHDRAWAL OF RS.20 LAKH AFTER BANKING HOURS WITHOUT APPROVAL OF BOARD OF DIRECTORS
DID NOT REPORT CASH TRANSACTIONS REPORTS (CTR) TO FINANCIAL INTELLIGENCE UNIT-INDIA (FIU-IND)
|
IMPOSED PENALTY RS.5,00,000 FROM 16-JUL-2015
16-JUL-2015
|
|
|
2
|
|
|
JAMBUSAR PEOPLES CO-OPERATIVE BANK LTD.,THE
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI U/S 36 (1) OF THE BANKING REGULATIONS ACT, 1949
DID NOT REPORT CASH TRANSACTIONS REPORTS (CTR) TO FINANCIAL INTELLIGENCE UNIT-INDIA (FIU-IND)
DID NOT PLACE APPROPRIATE SYSTEM FOR IDENTIFICATION OF SUSPICIOUS TRANSACTIONS
DID NOT SUBMIT QUARTERLY CERTIFICATE OF HOLDING OF GOVERNMENT SECURITIES
|
IMPOSED PENALTY RS.3,00,000 FROM 31-MAR-2016
31-MAR-2016
|
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3
|
|
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MILLATH CO-OPERATIVE BANK LTD.
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON LOANS AND/OR ADVANCES TO DIRECTORS AND THEIR RELATIVES
DID NOT REPORT CASH TRANSACTIONS REPORTS (CTR) TO FINANCIAL INTELLIGENCE UNIT-INDIA (FIU-IND)
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON VEHICLE LOANS/STAFF LOANS
|
IMPOSED PENALTY RS.15,00,000 FROM 03-OCT-2018
03-OCT-2018
|
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4
|
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PIJ PEOPLE'S CO-OPERATIVE BANK LTD.,THE
|
|
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DID NOT ALLOCATE UNIQUE CUSTOMER IDENTIFICATION CODE (UCIC)
DID NOT REPORT CASH TRANSACTIONS REPORTS (CTR) TO FINANCIAL INTELLIGENCE UNIT-INDIA (FIU-IND)
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 ANTI MONEY LAUNDERING (AML) DIRECTIVES/INSTRUCTIONS/GUIDELINES
DID NOT ADHERE TO INSTRUCTIONS OF RBI ON SUPERVISORY ACTION FRAMEWORK (SAF)
DID NOT PLACE SYSTEM TO GENERATE ALERTS WHEN TRANSACTIONS INCONSISTENT WITH RISK CATEGORISATION & CUSTOMER PROFILE
DID NOT MAINTAIN RECORDS OF CASH TRANSACTIONS FOR VALUE OF MORE THAN RS.10 LAKH
|
IMPOSED PENALTY RS.4,00,000 FROM 20-APR-2018
20-APR-2018
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5
|
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PIJ PEOPLE'S CO-OPERATIVE BANK LTD.,THE
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RISK CATEGORIZATION OF ACCOUNTS
DID NOT REPORT CASH TRANSACTIONS REPORTS (CTR) TO FINANCIAL INTELLIGENCE UNIT-INDIA (FIU-IND)
|
IMPOSED PENALTY RS.1,00,000 FROM 11-JUN-2015
11-JUN-2015
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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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