Money laundering: RBI imposes fine of Rs 49.5 crore on 22 banks

July 15, 2013

Money_launderingNew Delhi, Jul 15: The RBI on Monday imposed fines totalling Rs 49.5 crore on 22 private and public sector banks including SBI, PNB and Yes Bank for violating know your customer/anti-money laundering norms. It also gave cautionary letters to seven including Citibank and Stanchart following an expose made by an online portal.

"After considering the facts of each case...Reserve Bank came to conclusion that some of the violations were substantiated and warranted imposition of monetary penalty..." the central bank said in a statement.

A penalty of Rs 3 crore each has been imposed on State Bank of India (SBI), Bank of India, Canara Bank, Bank of Baroda, Central Bank of India, Indian Overseas Bank and Federal Bank.

United Bank of India, Lakshmi Vilas Bank, Punjab National Bank, Jammu & Kashmir Bank and Andhra Bank were slapped a penalty of Rs 2.5 crore each.

A penalty of Rs 2 crore each was imposed on Yes Bank, Vijaya Bank, Oriental Bank of Commerce and Dhanlaxmi Bank. The other banks which were penalised by the RBI include Deutsche Bank, Development Credit Bank, ING Vysya Bank, Kotak Mahindra Bank and Ratnakar Bank.

Besides, Reserve Bank has issued cautionary letters to Citibank, Standard Chartered Bank, Barclays Bank, BNP Paribas, Royal Bank of Scotland, Bank of Tokyo Mitsubishi and State Bank of Patiala. Following probe into charges levelled by an online portal Cobrapost, RBI has earlier imposed fines totalling Rs 10.5 crore on top three private lenders - Axis Bank, HDFC Bank and ICICI Bank.

Although the investigation did not reveal any prima facie evidence of money laundering, RBI said that "any conclusive inference in this regard can be drawn only by an end-to-end investigation of the transactions by tax and enforcement agencies".

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News Network
January 21,2020

Lucknow, Jan 21: Defending his brainchild, the Citizenship Amendment Act (CAA), Union home minister Amit Shah on Tuesday said the new law will not be scrapped despite the countrywide protests against it.

Addressing a rally here to drum up support for the CAA, Shah also declared that construction of a Ram temple "touching the skies" in Ayodhya will begin within three months.

He said there is no provision in the amended law for taking anyone's citizenship away. "A canard is being spread against the CAA by the Congress, SP, BSP, and Trinamool Congress. The CAA is a law to grant citizenship," he added.

"I want to say that irrespective of the protests this will not be withdrawn," he added.

Shah challenged Congress leaders to hold a discussion with him on CAA at a public forum.

He named Congress leader Rahul Gandhi, Samajwadi Party's Akhilesh Yadav, Bahujan Samaj Party's Mayawati and TMC chief Mamata Banerjee while throwing the "challenge".

Congress has become blind due to vote bank politics,"he said. He also blamed the Congress for Partition.

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Agencies
February 20,2020

Kanpur, Feb 20: Inspector general, Kanpur range, has ordered a probe into a woman's allegation that the cops misbehaved with her at Raipurwa police station when she went there with her father to lodge a complaint of harassment and eve-teasing.

The woman posted her complaint on the Twitter handle of Kanpur police.

The woman, 21, alleged that instead of listening to her complaint, Raipurwa cops asked her, "Zyada padh gayi ho, itna advance kisne bana dia hai, tumhare Papa ne?" (You are too educated. Who made you so advanced - your father?)

She further said that instead of taking necessary action on her complaint, the police forced her father to compromise with the accused, the son of her landlord, who harassed her on Monday.

The woman also stated that there were no female cops at the police station and she had to wait for several hours.

"Throughout my presence at the police station, I had to interact with male cops," she tweeted.

Inspector, Raipurwa, Sunil Kumar, however, has denied allegations.

"Her allegations are not true. Both the parties settled the dispute on their own," he said.

IG Range, Mohit Agarwal, meanwhile, said, "I have asked the SSP to initiate a probe in this regard and take action against guilty cops."

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Agencies
February 12,2020

New Delhi, Feb 12: Delhi Chief Minister-designate Arvind Kejriwal was on Wednesday elected as the leader of AAP legislative party, a day after he led the party to an emphatic victory in the Delhi Assembly elections.

Kejriwal was elected as the AAP legislative party leader during a meeting called by him with the newly-elected party MLAs. The meeting was held at the AAP chief's residence.

Atishi, AAP's winning candidate from Kalkaji constituency said after the meeting, "It is definitely a validation of the work that has been done by AAP in the last five years, be it education, health care, water or electricity."

Kejriwal is slated to take oath as the Delhi Chief Minister for the third time at Ramlila Maidan on February 16.

AAP galloped to a landslide victory by winning 62 of the 70 seats in the Delhi Assembly elections in the face of a high-voltage campaign by the BJP, which fielded a battery of Union Ministers and Chief Ministers in its electioneering, spearheaded by Home Minister Amit Shah.

The BJP marginally improved its tally, managing just eight seats from its 2015's tally of three seats. The Congress, which drew a blank in the previous elections, failed to open its account yet again.

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