Thursday, June 6, 2013

No leniency for banks that are flouting norms: FinMin official

..."There is absolutely no scope for benefit of doubt to be given to anybody who violates fundamentals like KYC norms and cash transaction limits, does not report suspicious transactions, advise customers to make Rs 49,999 transactions (to avoid quoting PAN and their reporting), and a dozen of them in one day, there is absolutely no scope for that. This is absolutely not done,"..........

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