9911796707
TMI BlogRBI imposes penalty on Integral Urban Co-operative Bank Limited, JaipurX X X X Extracts X X X X X X X X Extracts X X X X ..... RBI imposes penalty on Integral Urban Co-operative Bank Limited, Jaipur X X X X Extracts X X X X X X X X Extracts X X X X ..... lakh (Rupees twenty lakh only ) on the Integral Urban Co-operative Bank Limited, Jaipur, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with section 46(4) of the B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anking Regulation Act, 1949 (As Applicable to Co-operative Societies), for the following violations of the guidelines/directives on Know Your Customers (KYC)/Anti Money Laundering (AML) viz. (i) Absen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce of facility for generating alert report for Cash Transaction Report (CTR)/Suspicious Transaction Report (STR); (ii) No system of risk categorization and fixation of threshold limits; (iii) Non repo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rting of cash transactions to Financial Intelligence Unit-India (FIU-IND) including director related accounts and (iv) Non monitoring of cash transactions. The Reserve Bank of India had issued a show ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cause notice to the bank, in response to which the bank submitted a written reply and also made personal hearing. After considering the facts of the case and the bank's reply in the matter, the Reser ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve Bank came to the conclusion that the violations were substantiated and warranted imposition of the monetary penalty. Accordingly, it has penalized the bank.
Sangeeta Das
Director X X X X Extracts X X X X X X X X Extracts X X X X ..... s release - PIB ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
