RBI penalises Dharmapuri District Central Co-operative Bank Ltd., Tamil Nadu

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..... RBI penalises Dharmapuri District Central Co-operative Bank Ltd., Tamil Nadu - News and Press Release Dated:- 24-3-2014 - News - 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 Ba .....

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..... nking 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 .....

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..... 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 matter, th .....

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..... e Reserve Bank of India came to the conclusion that the violation was substantiated and warranted imposition of the penalty. Ajit Prasad Assistant General Manager - News - Press release - .....

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..... PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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