RBI Penalises Siwan Central Co-operative Bank Ltd., Siwan

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..... RBI Penalises Siwan Central Co-operative Bank Ltd., Siwan - News and Press Release Dated:- 25-10-2013 - News - The Reserve Bank of India has imposed a monetary penalty of Rs. 5.00 lakh (Rupees five .....

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..... lakh only) on Siwan Central Co-operative Bank Ltd., Bihar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As .....

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..... Applicable to Co-operative Societies), for non-adherence to Know Your Customers (KYC) norms and Anti Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to t .....

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..... he bank in response to which the bank submitted a written reply. After considering the facts of the case, the bank's reply and personal submissions in the matter, the Reserve Bank of India came to the .....

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..... conclusion that the violation was substantiated and warranted imposition of the penalty. Ajit Prasad Assistant General Manager - News - Press release - PIB Tax Management India - taxmanagem .....

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..... entindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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