https://www.taxtmi.com/news?id=13181 Reserve Bank of India imposed monetary penalties on twelve banks after scrutiny of M/s. Deccan Chronicle Holdings Ltd. accounts, issuance of show cause notices, consideration of written replies and personal submissions, and conclusion that violations of Reserve Bank instructions were substantiated. The penalties were imposed under the Reserve Bank's powers under Section 47A(1) read with Section 46(4)(i) of the Banking Regulation Act, 1949, and the action is not intended to pronounce on the validity of transactions between the banks and the borrower. en-us Sat, 26 Jul 2014 10:12:52 +0530 Sat, 26 Jul 2014 10:12:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13181 Reserve Bank of India imposed monetary penalties on twelve banks after scrutiny of M/s. Deccan Chronicle Holdings Ltd. accounts, issuance of show cause notices, consideration of written replies and personal submissions, and conclusion that violations of Reserve Bank instructions were substantiated. The penalties were imposed under the Reserve Bank's powers under Section 47A(1) read with Section 46(4)(i) of the Banking Regulation Act, 1949, and the action is not intended to pronounce on the validity of transactions between the banks and the borrower. News - Sat, 26 Jul 2014 10:12:52 +0530 https://www.taxtmi.com/news?id=13181