{"id":9386,"date":"2013-07-16T10:30:39","date_gmt":"2013-07-16T08:30:39","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=9386"},"modified":"2013-07-16T10:32:02","modified_gmt":"2013-07-16T08:32:02","slug":"rbi-penalises-22-banks-for-violating-kycanti-money-laundering-norms","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/rbi-penalises-22-banks-for-violating-kycanti-money-laundering-norms\/","title":{"rendered":"RBI penalises 22 banks for violating KYC\/anti-money laundering norms"},"content":{"rendered":"

The Reserve Bank of India (RBI) slapped a penalty of nearly Rs 50 crore among 22 banks for violation of Know Your Customer (KYC) and anti money laundering (ALM) norms. Moreover, it warned seven more banks by issuing cautionary letters.<\/p>\n

Among private sector lenders, RBI found violations of regulatory instructions (in terms of KYC and ALM) in Yes Bank (fined Rs 2 crore), Kotak Mahindra Bank (Rs 1.501 crore), ING Vysya Bank (Rs 1.50), Federal Bank (Rs 3 crore), Development Credit Bank or DCB (Rs 1 crore), Dhanlaxmi Bank (Rs 2 crore), Lakshmi Vilas Bank (Rs 2.50 crore) and Jammu & Kashmir Bank (Rs 2.501).<\/p>\n

South-based public sector lenders including Canara Bank, Andhra Bank and Vijaya Bank will have to shell out to the tune Rs 3.001 crore, Rs 2.50 crore and Rs 2 crore respectively.<\/p>\n

North-based Punjab National Bank ( PNB ) and Punjab & Sind Bank are carrying a fine of Rs 2.50 crore each. Oriental Bank of Commerce (OBC) will pay a sum of 2 crore. Kolkata-based United Bank of India ( UBI ) is also penalised by Rs 2.50 crore.<\/p>\n

Deutsche Bank A. G. is the only foreign lender to have appeared in the list of 22 banks. It will have to share Rs 1 crore with the central bank as fine…RBI Press Release<\/a><\/p>\n

\"Violating<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Reserve Bank of India (RBI) slapped a penalty of nearly Rs 50 crore among 22 banks for violation of Know Your Customer (KYC) and anti money laundering (ALM) norms. Moreover, it warned seven more banks by issuing cautionary letters. … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[22,13],"tags":[],"class_list":["post-9386","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t