Calcutta HC: Award May Be Set Aside if Tribunal Rewrites Contract or Ignores Key Clauses || Delhi HC Suspends Kuldeep Singh Sengar’s Life Term, Holding Section 5(C) of POCSO Not Made Out || Calcutta High Court: Arbitration Clause in an Expired Lease Cannot be Invoked For a Fresh Lease || Delhi High Court: 120-Day Timeline under Section 132B Of Income Tax Act is Not Mandatory || NCLAT Reaffirms That Borrower's Debt Acknowledgment Also Extends Limitation Period for Guarantors || NCLAT: Oppression & Mismanagement Petition Cannot Be Filed Without Company Membership on Filing Date || Supreme Court Quashes Rajasthan Village Renaming, Says Government Must Follow its Own Policy || NCLAT: NCLT Can Order Forensic Audit on its Own, No Separate Application Required || NCLAT Reiterates That IBC Cannot be Invoked as a Recovery Tool for Contractual Disputes || Delhi HC: DRI or Central Revenues Control Lab Presence in Delhi Alone Does Not Confer Jurisdiction

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 :