https://www.taxtmi.com/news?id=4301 For individual frauds of Rs.25.00 lakh and above, NBFCs must submit FMR-1 to the Reserve Bank's Fraud Monitoring Cell and a copy to the Regional Office within twenty-one days of detection; FMR-3 quarterly progress reports for frauds of Rs.1 lakh and above must be filed case-wise with the Regional Office within fifteen days of quarter-end. NBFCs should not send FMR-3 for lower-value cases to Central Office and may close frauds only after specified investigative, accountability, recovery/write-off, insurance and governance actions and with Regional Office approval, with limited statistical exceptions for delayed prosecutions. en-us Fri, 14 Dec 2012 14:36:13 +0530 Fri, 14 Dec 2012 14:36:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=4301 For individual frauds of Rs.25.00 lakh and above, NBFCs must submit FMR-1 to the Reserve Bank's Fraud Monitoring Cell and a copy to the Regional Office within twenty-one days of detection; FMR-3 quarterly progress reports for frauds of Rs.1 lakh and above must be filed case-wise with the Regional Office within fifteen days of quarter-end. NBFCs should not send FMR-3 for lower-value cases to Central Office and may close frauds only after specified investigative, accountability, recovery/write-off, insurance and governance actions and with Regional Office approval, with limited statistical exceptions for delayed prosecutions. News - Fri, 14 Dec 2012 14:36:13 +0530 https://www.taxtmi.com/news?id=4301