Daily Archives: July 15, 2013

22 Banks Fined for KYC Failure

Posted on July 15, 2013 by Vijayashankar Na

22 Banks have been fined by RBI for KYC failures. The fines range from Rs 0.50 lakhs in the case of Ratnakar Bank to rs 3.002 crores in the case of IOB. Most other Banks have been fined between 2.50 … Continue reading →

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One More Export Fraud Reported from Delhi

Posted on July 15, 2013 by Vijayashankar Na

As discussed in this column earlier, one more fraud on an Exporter has been reported from Delhi involving diversion of export proceeds. Report in TOI The loss reported in the Delhi fraud is US$31000 (Rs 18 lakhs). The two other … Continue reading →