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  • RBI penalty power, Banking Regulation Act 1949, 16 ccbs fined 5l each by rbi for not meeting kyc norms and aml standards, Aml standards

    16 CCBs fined 5L each by RBI for not meeting KYC norms and AML standards 2015-04-02 04:32:14

    The Reserve Bank of India has imposed a monetary penalty of Rs 5.00 lakh (Rupees five lakh only) each on 16 Central Co-operative Banks on grounds of non-meeting the Know Your Customer (KYC) norms and Anti-Money Laundering (AML) standards. The...

    Keywords: Know Your Customer, Banking Regulation Act 1949, RBI penalty power, Know Your Customer

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