.............The question that arises, therefore, is: Why has the RBI seemingly woken up only now and gone on to impose fines on 22 banks (in addition to three others in June)? Has all this come about only because of a ‘sting operation’ by an online news portal, apparently showing officials from three banks willing to accept large amounts of unaccounted cash and deploy these in suitable investment schemes? The fact that the RBI scrutiny happened just a month after the news portal’s expose does indicate so. Given the compulsions that banking staff face to keep deposits flowing, it would be a folly on the part of the RBI to count on their good behaviour alone as the basis for compliance with KYC norms........................
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment