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RBI penalises The District Co-operative Bank Bank Ltd., Mahabubnagar, Andhra Pradesh
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....BI penalises The District Co-operative Bank Bank Ltd., Mahabubnagar, Andhra Pradesh <br>News and Press Release<br>Dated:- 19-3-2014<br><BR>The Reserve Bank of India has imposed a monetary penalty of R....
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....s. 5.00 lakh (Rupees five lakh only) on The District Cooperative Central Bank Ltd., Mahabubnagar, Andhra Pradesh in exercise of powers vested in it under the provisions of Section 47(A) read with Sect....
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....ion 46 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....
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.... 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, the bank's reply and personal submissions in ....
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....the matter, the Reserve Bank of India came to the conclusion that the violation was substantiated and warranted imposition of the penalty. Sucheta Vazkar Manager<BR> News - Press release - PIB....