TMI BlogRBI penalises 16 Central Co-operative Banks (CCBs)X X X X Extracts X X X X X X X X Extracts X X X X ..... RBI penalises 16 Central Co-operative Banks (CCBs) - News and Press Release Dated:- 1-4-2015 - News - The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees five lakh only) each on 16 Central Co-operative Banks listed below. Penalties have been imposed in exercise of powers vested in it under the provisions of Section 47(A) read with Section 46 of the Banking Reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulation Act, 1949 (As applicable to Co-operative Societies), for non-adherence to Know Your Customer (KYC) norms and Anti-Money Laundering (AML) standards. Sr. No. Name of the Bank 1. The Dumka Central Co-operative Bank Ltd., Dumka (Jharkhand) 2. The Gumla Simdega Central Co-operative Ban ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k Ltd., (Jharkhand) 3. The Dhanbad Central Co-operative Bank Ltd., (Jharkhand) 4. The Rewari Central Co-operative Bank Ltd., Rewari (Haryana) 5. The Mansa Central Co-operative Bank Ltd., Mansa (Punjab) 6. The Jind Central Co-operative Bank Ltd., (H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aryana) 7. The Gopalganj Central Co-operative Bank Ltd., Gopalganj (Bihar) 8. Ajmer Central Co-operative Bank Ltd., Ajmer (Rajasthan) 9. Hanumangarh Kendriya Sahakari Bank Ltd., (Rajasthan) 10. The Central Co-operative Bank Ltd., Bikaner (Rajasthan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) 11. The Sirohi Central Co-operative Bank Ltd., Sirohi (Rajasthan) 12. The Bundi Central Co-operative Bank Ltd., Bundi (Rajasthan) 13. The Boudh Co-operative Central Bank Ltd., (Odisha) 14. Bhawanipatna Central Co-operative Bank, (Odisha) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15. Cuttack Central Co-operative Bank Ltd., (Odisha) 16. The Sambalpur District Co-operative Central Bank Ltd., (Odisha) The Reserve Bank of India had issued a show cause notice to the banks in response to which the banks submitted a written reply. After considering the facts of the cases, the banks replies and p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ersonal submissions in the matter, the Reserve Bank of India came to the conclusion that the violations were substantiated and warranted imposition of the penalty. Alpana Killawala Principal Chief General Manager - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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