For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

RBI imposes monetary penalty on Khargone Nagrik Sahakari Bank

By Religare
|

The Reserve Bank of India has imposed a monetary penalty of Rs 1.00 lakh on the Khargone Nagrik Sahakari Bank Maryadit, Khargone for the violation of the guidelines of the Reserve Bank on implementation of Know Your Customers (KYC)/Anti Money Laundering (AML) norms, submission of proper compliance on time and granting donations.

The Reserve Bank 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 and the bank's reply in the matter, the Reserve Bank came to the conclusion that the violations were substantiated and warranted imposition of the monetary penalty.

Story first published: Tuesday, August 25, 2015, 12:20 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more