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RBI Penalises Rajsamand Urban Co-operative Bank Limited, Rajsamand
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....BI Penalises Rajsamand Urban Co-operative Bank Limited, Rajsamand <br>News and Press Release<br>Dated:- 26-11-2013<br><BR>The Reserve Bank of India has imposed a monetary penalty of Rs. 2.00 lakh (Rup....
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....ees two lakh only) on Rajsamand Urban Co-operative Bank Limited, Rajsamand in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulat....
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....ion Act, 1949 (As Applicable to Co-operative Societies), for violating the Know Your Customers (KYC) norms and Anti Money Laundering (AML) directives of Reserve Bank of India. The Reserve Bank of Ind....
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....ia had issued a show cause notice to the bank in response to which the bank submitted a written reply. After considering the bank's reply in the matter, the Reserve Bank of India came to the conclusio....
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....n that the violation was substantiated and warranted imposition of the penalty. Ajit Prasad Assistant General Manager<BR> News - Press release - PIB....