Tuesday, July 16, 2013

Here's how banks violated RBI norms on KYC

......It is noteworthy that Cobrapost.com, an online investigative magazine had carried out a series of sting operations on Indian banks. It had alleged of wide-spread infringement of KYC and ALM norms. Based on those allegations, the central bank formed an investigation committee and carried out a scrutiny among alleged lenders. Outcomes of the investigation actually prompted the RBI to act with (monetary) punishment measures.........

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