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TMI BlogRBI imposes penalty on Imperial Urban Co-operative Bank Ltd., Faizabad, Uttar PradeshX X X X Extracts X X X X X X X X Extracts X X X X ..... RBI imposes penalty on Imperial Urban Co-operative Bank Ltd., Faizabad, Uttar Pradesh - News and Press Release Dated:- 11-3-2014 - News - The Reserve Bank of India has imposed a monetary penalty of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 5.00 lakh (Rupees Five lakh only) on the Imperial Urban Co-operative Bank Ltd, Faizabad, Uttar Pradesh, in exercise of the powers vested in it under the provisions of Section 47 A (1) (b) read wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h Section 46 (4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for the following violations: Incorrect reporting of information in the Form I relating to CRR/ SLR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and incorrect computation of DTL. Violation of KYC guidelines i.e., non-preparation of risk profiles of all customers and non-fixing of threshold limit. Violation of Prudential Inter-bank (Gros ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s) Exposure Limit and Prudential Inter-bank Counter Party Limit. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank submitted its written reply. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fter considering the facts of the case and the bank s reply in the matter, the Reserve Bank of India came to the conclusion that the violations were substantiated and warranted imposition of penalty. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... P. B. Lombar Assistant Manager - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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