Search Results for: Traction mechanism
(the act) and the prevention of money laundering (maintenance of records) rules, (the rules, ), the bank was issued a show cause notice for its comments on the observation shared by rbi for non-reporting of ctrs, cumulative delay of months in filing of ctrs and failure to have effective internal mechanism
penalty of rs. twenty five lakh seventy thousand only (rs. , /-) only for non-compliances of section of the act read with rules , , and of the rules, by the bank, viz. failure to file ctrs under the rule ( ) (a) and ( )(b) of pml rules, ; delay in filing of ctrs and failure to have effective internal mechanism...
https://fiuindia.gov.in/pdfs/judgements/NCB_02_2020.pdf