Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Action Against Banks if Guilty: RBI on Cobrapost Sting    </title>
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Reserve Bank of India (RBI) today said it has completed investigations against banks following the Cobrapost expose and will take action if they are found guilty of violating prudential banking norms.


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Reserve Bank of India (RBI) today said it has completed investigations against banks following the Cobrapost expose and will take action if they are found guilty of violating prudential banking norms.


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                            <div align="justify">-Outlook</div><p align="justify"><br />Reserve Bank of India (RBI) today said it has completed investigations against banks following the Cobrapost expose and will take action if they are found guilty of violating prudential banking norms.</p><p align="justify">&quot;We have done investigations, we have prepared an internal report. There are processes to be followed to take investigations to its logical closure...</p><p align="justify">&quot;The first is action against individual institutions who are involved in practises which are not consistent with the banking regulation and prudential banking&quot;, he said while addressing a press conference after the RBI's central board meeting here.</p><p align="justify">Web portal Cobrapost in its string of expose has alleged money laundering and other wrong doings by several public and sector financial institutions ranging from country's largest bank SBI to the youngest lender Yes Bank.</p><p align="justify">The central bank, Subbarao further said, has already taken systemic action to deal with the problem and many of them were announced in the annual policy document unveiled last week.</p><p align="justify">As far as individual banks are concerned, he said, &quot;we got to follow procedure&quot; before deciding on imposing penalty on them for violating the prudential banking norms.</p><p align="justify">On when the action was likely to be taken against erring banks, the RBI Governor said, &quot;not possible to indicate time frame as there are processes involved.&quot;</p><p align="justify">Subbarao further said, &quot;if you go through policy documents that came out last Friday, there were initiatives which are by way of systemic action to address some of the deficiencies that have come to notice as a result of investigations.&quot;</p><p align="justify">Some of the public sector banks and Life Insurance Corporation (LIC) have already taken action against 31 employees including suspension of 15 staff members. The investigations were still on. Certain private sector banks too have taken action against their employees. </p>                                                           
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                            <div align="justify">-Outlook</div><p align="justify"><br />Reserve Bank of India (RBI) today said it has completed investigations against banks following the Cobrapost expose and will take action if they are found guilty of violating prudential banking norms.</p><p align="justify">&quot;We have done investigations, we have prepared an internal report. There are processes to be followed to take investigations to its logical closure...</p><p align="justify">&quot;The first is action against individual institutions who are involved in practises which are not consistent with the banking regulation and prudential banking&quot;, he said while addressing a press conference after the RBI's central board meeting here.</p><p align="justify">Web portal Cobrapost in its string of expose has alleged money laundering and other wrong doings by several public and sector financial institutions ranging from country's largest bank SBI to the youngest lender Yes Bank.</p><p align="justify">The central bank, Subbarao further said, has already taken systemic action to deal with the problem and many of them were announced in the annual policy document unveiled last week.</p><p align="justify">As far as individual banks are concerned, he said, &quot;we got to follow procedure&quot; before deciding on imposing penalty on them for violating the prudential banking norms.</p><p align="justify">On when the action was likely to be taken against erring banks, the RBI Governor said, &quot;not possible to indicate time frame as there are processes involved.&quot;</p><p align="justify">Subbarao further said, &quot;if you go through policy documents that came out last Friday, there were initiatives which are by way of systemic action to address some of the deficiencies that have come to notice as a result of investigations.&quot;</p><p align="justify">Some of the public sector banks and Life Insurance Corporation (LIC) have already taken action against 31 employees including suspension of 15 staff members. The investigations were still on. Certain private sector banks too have taken action against their employees. </p>                                                           
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                            <div align="justify">-Outlook</div><p align="justify"><br />Reserve Bank of India (RBI) today said it has completed investigations against banks following the Cobrapost expose and will take action if they are found guilty of violating prudential banking norms.</p><p align="justify">&quot;We have done investigations, we have prepared an internal report. There are processes to be followed to take investigations to its logical closure...</p><p align="justify">&quot;The first is action against individual institutions who are involved in practises which are not consistent with the banking regulation and prudential banking&quot;, he said while addressing a press conference after the RBI's central board meeting here.</p><p align="justify">Web portal Cobrapost in its string of expose has alleged money laundering and other wrong doings by several public and sector financial institutions ranging from country's largest bank SBI to the youngest lender Yes Bank.</p><p align="justify">The central bank, Subbarao further said, has already taken systemic action to deal with the problem and many of them were announced in the annual policy document unveiled last week.</p><p align="justify">As far as individual banks are concerned, he said, &quot;we got to follow procedure&quot; before deciding on imposing penalty on them for violating the prudential banking norms.</p><p align="justify">On when the action was likely to be taken against erring banks, the RBI Governor said, &quot;not possible to indicate time frame as there are processes involved.&quot;</p><p align="justify">Subbarao further said, &quot;if you go through policy documents that came out last Friday, there were initiatives which are by way of systemic action to address some of the deficiencies that have come to notice as a result of investigations.&quot;</p><p align="justify">Some of the public sector banks and Life Insurance Corporation (LIC) have already taken action against 31 employees including suspension of 15 staff members. The investigations were still on. Certain private sector banks too have taken action against their employees. </p>                                                           
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Action Against Banks if Guilty: RBI on Cobrapost Sting

Published on May 9, 2013   Modified on May 9, 2013

-Outlook Reserve Bank of India (RBI) today said it has completed investigations against banks following the Cobrapost expose and will take action if they are found guilty of violating prudential banking norms. "We have done investigations, we have prepared an internal report. There are processes to be followed to take investigations to its logical closure... "The first is action against individual institutions who are involved in practises which are not consistent with the banking regulation and prudential banking", he said while addressing a press conference after the RBI's central board meeting here. Web portal Cobrapost in its string of expose has alleged money laundering and other wrong doings by several public and sector financial institutions ranging from country's largest bank SBI to the youngest lender Yes Bank. The central bank, Subbarao further said, has already taken systemic action to deal with the problem and many of them were announced in the annual policy document unveiled last week. As far as individual banks are concerned, he said, "we got to follow procedure" before deciding on imposing penalty on them for violating the prudential banking norms. On when the action was likely to be taken against erring banks, the RBI Governor said, "not possible to indicate time frame as there are processes involved." Subbarao further said, "if you go through policy documents that came out last Friday, there were initiatives which are by way of systemic action to address some of the deficiencies that have come to notice as a result of investigations." Some of the public sector banks and Life Insurance Corporation (LIC) have already taken action against 31 employees including suspension of 15 staff members. The investigations were still on. Certain private sector banks too have taken action against their employees.

Outlook, 9 May, 2013, http://news.outlookindia.com/items.aspx?artid=797691

Tagged with: Money Laundering banking black money

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