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RBI imposes penalty on Integral Urban Co-operative Bank Limited, Jaipur
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....BI imposes penalty on Integral Urban Co-operative Bank Limited, Jaipur <br>News and Press Release<br>Dated:- 10-6-2015<br><BR>The Reserve Bank of India has imposed a monetary penalty of ₹ 20.00 ....
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....lakh (Rupees twenty lakh only ) on the Integral Urban Co-operative Bank Limited, Jaipur, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with section 46(4) of the Ba....
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....nking Regulation Act, 1949 (As Applicable to Co-operative Societies), for the following violations of the guidelines/directives on Know Your Customers (KYC)/Anti Money Laundering (AML) viz. (i) Absenc....
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....e of facility for generating alert report for Cash Transaction Report (CTR)/Suspicious Transaction Report (STR); (ii) No system of risk categorization and fixation of threshold limits; (iii) Non repor....
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....ting of cash transactions to Financial Intelligence Unit-India (FIU-IND) including director related accounts and (iv) Non monitoring of cash transactions. The Reserve Bank of India had issued a show ....
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....cause notice to the bank, in response to which the bank submitted a written reply and also made personal hearing. 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 monetary penalty. Accordingly, it has penalized the bank. Sangeeta Das Director<BR> News - Press....
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.... release - PIB....