Karnataka HC: Can’t Provide Free Bus Service to Enable Voters to Reach Polling Booth  ||  Gau. HC Declares Levy of Court Fee at the rate of 7% for Grant of Probate as Unconstitutional  ||  Cal. HC: Can’t Say Retracted Statement to be Involuntary Without Being Examined by Court  ||  Supreme Court: Union Directed to Deport 17 Foreigners in Assam’s Transit Camps  ||  Recommendations Made by Gujarat HC for Promotions of Judicial Officers Upheld by Supreme Court  ||  SC: Can’t Charge Friends/Relative for Offence of Bigamy by Mere Presence in Second Marriage  ||  ICAI Rule Limiting Number of Tax Audits by Chartered Accountants Every Year Upheld by Supreme Court  ||  Supreme Court Explains 7 Sub-Rights that Must be Protected by State During Land Acquisition  ||  SC: Accused Can’t be Arrested by ED After Special Court has Taken Cognizance of PMLA Complaint  ||  SC: Employees Filing Writ Petitions Against Air India After its Privatisation, Not Maintainable    

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 :        

Disclaimer | Copyright 2024 - All Rights Reserved