https://www.taxtmi.com/news?id=12534 Reserve Bank of India imposed a monetary penalty on Bijnor Urban Co-operative Bank Ltd. under Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act for sanctioning loans to directors and relatives contrary to the Master Circular and for deficiencies in Know Your Customer compliance contrary to the specified RBI circular; the action followed a show cause notice, the bank's written reply, and the Reserve Bank's conclusion that the violations were substantiated. en-us Mon, 03 Mar 2014 16:44:44 +0530 Mon, 03 Mar 2014 16:44:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=12534 Reserve Bank of India imposed a monetary penalty on Bijnor Urban Co-operative Bank Ltd. under Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act for sanctioning loans to directors and relatives contrary to the Master Circular and for deficiencies in Know Your Customer compliance contrary to the specified RBI circular; the action followed a show cause notice, the bank's written reply, and the Reserve Bank's conclusion that the violations were substantiated. News - Mon, 03 Mar 2014 16:44:44 +0530 https://www.taxtmi.com/news?id=12534