The RBI fined Walchandnagar Sahakari Bank Rs 4 lakh for KYC norm violations. During an FY22 inspection, the RBI found that the bank failed to assign unique customer codes and didn’t review risk categorization of accounts. The RBI clarified that the penalty was due to regulatory compliance issues and not a judgment on transactions. The penalty was imposed under Banking Regulations Act, 1949, following the RBI’s notice and the bank’s response. The unique customer identification code aids in customer tracking and transaction monitoring. The bank did not provide a comment.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}