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TaxTMI 
RBI penalises Dharmapuri District Central Co-operative Bank Ltd., Tamil Nadu
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....BI penalises Dharmapuri District Central Co-operative Bank Ltd., Tamil Nadu <br>News and Press Release<br>Dated:- 24-3-2014<br><BR>The Reserve Bank of India has imposed a monetary penalty of Rs. 5.00 ....
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....lakh (Rupees five lakh only) on Dharmapuri District Central Co-operative Bank Ltd., Tamil Nadu, in exercise of powers vested in it under the provisions of Section 47(A) read with Section 46 of the Ban....
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....king 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 of India had iss....
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....ued 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 matter, the R....
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....eserve 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 - PIB....