https://www.taxtmi.com/news?id=16946 RBI found no evidence that Public Sector Banks deliberately engaged in forex frauds though staff collusion could not be ruled out in the Bank of Baroda case; BOB referred the matter to enforcement agencies and prosecutions are progressing. RBI issued comprehensive guidelines to Authorised Dealer banks on advance remittances, documentary evidence, monitoring and reporting, implemented an Import Data Processing and Monitoring System to track all imports, and directed AD banks to ensure adherence to export/import rules and strengthen internal security and alert protocols. en-us Fri, 25 Nov 2016 17:38:13 +0530 Fri, 25 Nov 2016 17:38:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16946 RBI found no evidence that Public Sector Banks deliberately engaged in forex frauds though staff collusion could not be ruled out in the Bank of Baroda case; BOB referred the matter to enforcement agencies and prosecutions are progressing. RBI issued comprehensive guidelines to Authorised Dealer banks on advance remittances, documentary evidence, monitoring and reporting, implemented an Import Data Processing and Monitoring System to track all imports, and directed AD banks to ensure adherence to export/import rules and strengthen internal security and alert protocols. News - Fri, 25 Nov 2016 17:38:13 +0530 https://www.taxtmi.com/news?id=16946