TaxTMI 
TaxTMI 
RBI penalises The Coimbatore District Central Co-operative Bank Ltd., Tamil Nadu
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....BI penalises The Coimbatore District Central Co-operative Bank Ltd., Tamil Nadu <br>News and Press Release<br>Dated:- 5-12-2013<br><BR>The Reserve Bank of India has imposed a monetary penalty of Rs.5.....
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....00 lakh (Rupees five lakh only) on The Coimbatore District Central Co-operative Bank Ltd., Tamil Nadu in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 4....
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....6(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for non-adherence to Know Your Customers (KYC) norms and Anti Money Laundering (AML) guidelines. The Reserve Bank o....
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....f India had issued a show cause notice to the bank in response to which the bank submitted a written reply. After considering the facts of the case, the bank's reply and personal submissions in the ma....
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....tter, the Reserve Bank of India came to the conclusion that the violation was substantiated and warranted imposition of the penalty. Ajit Prasad Assistant General Manager<BR> News - Press release - ....
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....PIB....