Bombay HC: Railway Employee With Valid Privilege Pass is Bona Fide Passenger Despite Missing Entries || Delhi High Court: Mere Pleadings Made To Prosecute or Defend a Case Do Not Amount To Defamation || Delhi High Court: Asking an Accused To Cross-Examine a Witness Without Legal Aid Vitiates The Trial || Delhi High Court: Recruitment Notice Error Creates No Appointment Right Without Vacancy || Supreme Court: Subordinate Legislation Takes Effect Only From its Publication in The Official Gazette || Supreme Court: DDA Must Adopt a Litigation Policy To Screen Cases and Avoid Unnecessary Filings || Authorities Holding Public Auctions Must Disclose All Known Encumbrances and Related Litigation || SC: Compensatory Allowances Must Be Included While Computing Overtime Wages U/S 59 of Factories Act || SC: NGT Has No Jurisdiction to Decide Disputes Relating to Building Plan Violations || SC: Evidence is Often Fabricated Using AI And False Allegations are Rampant in Matrimonial Cases

RBI regional offices entrusted UCB fraud monitoring and reporting duties- (Reserve Bank of India) (19 May 2016)

MANU/RMIC/0079/2016

Banking

The Reserve Bank of India notified a revised fraud monitoring and reporting mechanism for Primary (Urban) Co-operative Banks.

Under the new process, frauds under Rs. 1 crore will be monitored by the respective Regional Office of the Department of Co-operative Bank Supervision of the RBI. Frauds over Rs. 1 crore will be monitored by the Central Fraud Monitoring Cell of the RBI. Changes to fraud reporting are also afoot: frauds in the value of Rs. 1 lakh and over are to be reported to the RBI, with individual frauds of Rs. 1 crore and over only being sent to the CMFC.

Tags : CO-OPERATIVE BANK FRAUD REPORTING MONITORING

Share :