Regional
RBI imposes Rs 5 cr penalty on Bank of Baroda
Mumbai : The Reserve Bank of India (RBI) has penalised the Bank of Baroda (BoB) Rs 5 crore ($754,000) for irregularities in anti-money laundering (AML) provisions that came to light in October 2015 during its audit, the public sector lender said here on Monday.
“The Reserve Bank of India has imposed a penalty of Rs 50 million on the Bank of Baroda. Pursuant to the internal audit of the bank, the RBI and investigative agencies in October 2015 were advised by the bank of certain irregularities observed,” the BoB said in a BSE filing.
“The RBI carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms in respect of certain AML provisions such as monitoring of transactions, timely reporting to FIU (Financial Intelligence Unit), and assigning of UCIC (Unique Customer Identification Code) to customers”, the bank said.
The Bank of Baroda has implemented a comprehensive corrective action plan, to strengthen internal controls and to ensure that such incidents do not recur, it added.
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What monkey fled with a bag containing evidence in it: Read full story
The court, generally, considers a person who commit a crime and the one who destroys the evidence, as criminals in the eyes of law. But what if an animal destroys the evidence of a crime committed by a human.
In a peculiar incident in Rajasthan, a monkey fled away with the evidence collected by the police in a murder case. The stolen evidence included the murder weapon (a blood-stained knife).
The incident came to light when the police appeared before the court and they had to provide the evidence in the hearing.
The hearing was about the crime which took place in September 2016, in which a person named Shashikant Sharma died at a primary health center under Chandwaji police station. After the body was found, the deceased’s relatives blocked the Jaipur-Delhi highway, demanding an inquiry into the matter.
Following the investigation, the police had arrested Rahul Kandera and Mohanlal Kandera, residents of Chandwaji in relation to the murder. But, when the time came to produce the evidence related to the case, it was found that the police had no evidence with them because a monkey had stolen it from them.
In the court, the police said that the knife, which was the primary evidence, was also taken by the monkey. The cops informed that the evidence of the case was kept in a bag, which was being taken to the court.
The evidence bag contained the knife and 15 other important evidences. However, due to the lack of space in the malkhana, a bag full of evidence was kept under a tree, which led to the incident.