https://www.taxtmi.com/news?id=12052 The central banking regulator imposed a monetary penalty on The Kakinada District Co operative Central Bank Ltd. under powers available through the Banking Regulation Act as applicable to co operative societies for failure to adhere to Know Your Customer (KYC) norms and Anti Money Laundering (AML) guidelines. The regulator issued a show cause notice, considered the bank's written reply and personal submissions, found the violation substantiated, and exercised statutory authority to levy the penalty. en-us Fri, 06 Dec 2013 16:51:14 +0530 Fri, 06 Dec 2013 16:51:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=12052 The central banking regulator imposed a monetary penalty on The Kakinada District Co operative Central Bank Ltd. under powers available through the Banking Regulation Act as applicable to co operative societies for failure to adhere to Know Your Customer (KYC) norms and Anti Money Laundering (AML) guidelines. The regulator issued a show cause notice, considered the bank's written reply and personal submissions, found the violation substantiated, and exercised statutory authority to levy the penalty. News - Fri, 06 Dec 2013 16:51:14 +0530 https://www.taxtmi.com/news?id=12052