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RBI penalises The Mahila Vikas Co-operative Bank Ltd., Ahmedabad (Gujarat)
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....BI penalises The Mahila Vikas Co-operative Bank Ltd., Ahmedabad (Gujarat) <br>News and Press Release<br>Dated:- 20-2-2014<br><BR>The Reserve Bank of India, in exercise of powers vested in it under the....
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.... provisions of 47A (1) (b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), imposed a monetary penalty of Rs. 5.00 lakh (Rupees five lakh only) on....
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.... the Mahila Vikas Co-operative Bank Ltd., Ahmedabad for violation of the Banking Regulation Act, 1949 (AACS)/RBI directives/instructions relating to non-adherence of KYC/AML guidelines. The Reserve B....
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....ank of 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 and the bank's reply in the matter, the Reserv....
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....e Bank came to the conclusion that the violations were substantiated and warranted imposition of the penalty. Ajit Prasad Assistant General Manager<BR> News - Press release - PIB....