By Vivek Dubey
CNBC-TV18.com
Published Mar 07, 2024
Date: Mar-24
Issues raised: Serious deficiencies observed in loans sanctioned for IPO financing & NCD subscriptions.
Actions Announced: Barred from financing against shares & debentures and disbursal of loans against IPO or subscription to debentures with immediate effect.
Date: Mar-24
Issues raised: Material supervisory concerns in gold loan portfolio.
Actions Announced: Barred from sanctioning / disbursing gold loans or assigning/securitising/selling gold loans, with immediate effect.
Date: Jan-24
Issues raised: Persistent non-compliances & continued material supervisory concerns in the bank.
Actions Announced: No further deposits, credit transactions, top ups & other banking services. Only withdrawals upto available balance. Termination of nodal accounts.
Date: Nov-23
Issues raised: Non-adherence to digital lending norms & deficiencies in Key Fact Statements.
Actions Announced: Stop sanction & disbursals of loans under ‘eCom’ & ‘Insta EMI card’
Date: Oct-23
Issues raised: Material supervisory concerns of onboarding customers onto mobile application.
Actions Announced: Barred onboarding of customers on ‘bob world’. Ensure that already onboarded customers don’t face any disruption.
Date: Jan-23
Issues raised: Certain material supervisory concerns in the bank.
Actions Announced: Barred from conducting transactions under Liberalized Remittance Scheme, with immediate effect.
Date: Sept-22
Issues raised: Material supervisory concerns related to management of its outsourcing activities.
Actions Announced: Barred from carrying out any recovery or repossession activity through outsourcing arrangements, till further orders.
Date: Mar-22
Issues raised: Certain material supervisory concerns observed in the bank.
Actions Announced: Barred from onboarding customers with immediate effect. Appoint an IT audit firm to conduct comprehensive system audit.
Date: Dec-20
Issues raised: Certain incidents of outages in the internet banking/ mobile banking/ payment utilities.
Actions Announced: Barred from launching any digital business generating activity under Digital 2.0. Bank was also asked not to source any new credit card customers.