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LORD JESUS CHRIST SAYS

13:37-39 - "The one who sows the good seed is the Son of Man," replied Jesus. "The field is the whole world. The good seed? That is the sons of the kingdom, while the weeds are the sons of the evil one. The blackguard who sowed them is the devil. The harvest is the end of this world. The reapers are angels

27 Jul 2016

MONEY MARKET- RBI JUST SLAPPED RS. 2 CRORE PENALTY ON THESE 3 PSU BANKS.




RBI has imposed penalty of Rs 2 crore each on Allahabad Bank and UCO Bank, and Rs 1 crore on Bank of India for violation of anti-money laundering norms.
slapped Rs 2 crore penalty on UCO Bank, Allahabad Bank, Bank of India
UCO Bank in a BSE filing said that the Reserve Bank has "imposed a penalty" of Rs 2 crore on the Bank on account of "few lapses in adherence to KYC/AML guidelines".
Bank of India too said the regulator has "imposed an aggregate penalty" of Rs 1 crore on it for "certain violations" of the requirements under Master circular on Know Your Customer (KYC) and anti-money laundering (AML).

Public sector Allahabad Bank said a penalty of Rs 2 crore has been imposed on it by the RBI.
All the three banks said they have taken necessary preventive measures and corrective action to avoid recurrence of such violations.
Yesterday, RBI had imposed penalties of Rs 5 crore and Rs 3 crore on PSU lenders Bank of Baroda and Punjab National Bank, respectively and also fined private sector HDFC Bank Rs 2 crore for lapses in adhering to anti-money laundering guidelines.


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