.....“Allegations doesn’t mean flouting (of KYC norms). There is not a single transaction which has taken place” K C Chakrabarty, deputy governor, RBI who is incharge of bank supervision department in central bank told reporters today. “We cannot take action based on allegations, (only) if we find something ...that is a continuous process” Chakrabarty said adding supervisory process of RBI is very effective. If we find something is wrong, we will always take action......
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