The Reserve Bank of India (RBI) has advised banks to exercise due caution and to be extra vigilant while opening or allowing transactions in remittances.
“It is clarified that any person resident in India collecting and effecting or remitting such payments directly or indirectly outside India would make himself or herself liable to be proceeded against with, for contravention of the Foreign Exchange Management Act, 1999 besides being liable for violation of regulations relating to know your customer (KYC) norms or anti money laundering (AML) standards,” the RBI said in a notification.
It has been brought to the notice of the RBI that fraudsters are seeking money from the gullible people, under different heads, such as, processing fees, transaction fees, tax clearance charges, conversion charges and clearing fees, said RBI. The victims have also been persuaded to deposit the amount in accounts with banks in India, and such amounts have been withdrawn immediately.
OUR Simple question is WHEN RBI itself was remitting fake notes-WHO SHOULD COMPLAIN AGAINST WHOM. An incident covered-up by the then CGM-RD RBI Hyderabad Dr. Sarvashree Krishna Mohan garu,who was involved in the following TWO serious irregularities: 1.It is to the common knowledge of the RBI’s Top Management about the bundle of Rs: 100/- notes forgotten & left on the floor of the vault, before being shifted into CVPS and was traced subsequently. 2.ICICI Bank returned to RBI, THIRTY FIVE FORGED NOTES of Rs:1000/- denomination, stating and ascertaining that these forged notes came in the RBI remittance, thus making RBI-Hyderabad, a complete laughing stock among the local-Banks in Hyderabad. This happened because the GREAT DR.SAAB has permitted only ONE Joint Custodian to open the vaults with BOTH the keys. WHO WILL PUNISH WHOM????NOT THE POOR POTDARS who was made scape goat. ANY ANSWERS PLEASE??? Contrary to this OUR Dr.SAAB is now made CGM i/c DBS, and the big joke is he who could NOT Supervise his own REgional Office is now expected to be SUPERVISING ALL BANKS. JOKE OF THIS DECADE WITH JOKERS LIKE THIS.