https://www.taxtmi.com/news?id=14396 Reserve Bank imposed monetary penalties on three public sector banks under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949 for substantiated violations of KYC/AML obligations, including failures in customer identification, transaction monitoring, RTGS receipt handling, account opening diligence and internal controls; eight other banks were cautioned to strengthen and periodically review measures to ensure strict KYC compliance. en-us Thu, 30 Apr 2015 10:23:21 +0530 Thu, 30 Apr 2015 10:23:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14396 Reserve Bank imposed monetary penalties on three public sector banks under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949 for substantiated violations of KYC/AML obligations, including failures in customer identification, transaction monitoring, RTGS receipt handling, account opening diligence and internal controls; eight other banks were cautioned to strengthen and periodically review measures to ensure strict KYC compliance. News - Thu, 30 Apr 2015 10:23:21 +0530 https://www.taxtmi.com/news?id=14396