Kyc Norms

  • RBI penalises 22 banks for violating KYC norms July 15, 2013

    New Delhi: The Reserve Bank of India on Monday penalised 22 banks for violating Know Your Customer norms and imposed penalties ranging from Rs 50 lakh to Rs 3 crore. The RBI has absolved them of money laundering charge saying there is no prima facie evidence against them. The RBI has...
  • Aadhar will bring transparency in the banking sector: Latha Venketesh June 20, 2013

    With successive Cobrapost sting operations revealing widespread violation of RBI guidelines and rules by stateowned banks, private Indian banks and even foreign banks, how can the system be streamlined so that the banks tow the line? CNBCTV18's banking editor Latha Venkatesh joined IBNLive readers for an interaction on the issue. Q....
  • Cobrapost expose: RBI penalises Axis, HDFC, ICICI banks June 10, 2013

    Mumbai: Three private banks, caught in the Cobrapost sting operation, have been let off the hook with paltry penalties. The Reserve Bank of India on Monday imposed penalties on Axis, ICICI and HDFC banks after a sting operation by online magazine Cobrapost exposed many loopholes. RBI imposed a penalty of Rs...
  • Over 30 banks flouting prescribed guidelines: RBI audit report May 30, 2013

    Mumbai: India's banking system is not as strong as expected. An RBI report shows that over 30 banks have failed to follow or enforce various prescribed rules and guidelines. CNBCTV18 has accessed the report of the audits instigated by the RBI after the Cobrapost expose, which shows that 30 banks,...
  • IT dept issues notices to ICICI, Axis, HDFC banks May 28, 2013

    New Delhi: Income Tax department has issued notices to three top private lenders in the country ICICI Bank, Axis Bank and HDFC Bank in connection with alleged money laundering charges levelled by online portal Cobrapost. The department has asked these banks to produce documents for verification as part of...
  • Money laundering by banks: Will take action depending on crime, says SBI May 6, 2013

    Twenty three public sector banks, including the SBI, and insurance companies have been named in a sting operation conducted by special investigations website Cobrapost. ...
  • Govt working on having common KYC norms for FIIs: FM March 11, 2013

    New Delhi: To attract more overseas investment into the country, government is working on bringing new norms for a common KYC for foreign institutional investors (FII), Finance Minister P Chidambaram said on Monday. "Government is working on converging all KYC (Know Your Customer) norms and they (FIIs) will have common KYCs......