RbiSearchHeader

Press escape key to go back

Past Searches

Theme
Theme
Text Size
Text Size
S1

Notification Marquee

RBI Announcements
RBI Announcements

RbiAnnouncementWeb

RBI Announcements
RBI Announcements

Asset Publisher

79062138

Frauds - Future approach towards monitoring of frauds in NBFCs

RBI / 2007-2008/257
DNBS.PD.CC. No.112 /03.10.42/2007-08

March 5, 2008

All deposit taking NBFCs (including RNBCs)

Dear Sirs,

Frauds – Future approach towards monitoring of frauds in NBFCs

Please refer to Company Circular No. 106 dated September 04, 2007 on the captioned subject which has now been revised as under:

Para 2.2- Cases of ‘negligence and cash shortages’ and ‘irregularities in foreign exchange transactions’ referred to in items (d) and (f) above are to be reported as fraud if the intention to cheat / defraud is suspected / proved. However, the following cases where fraudulent intention is not suspected / proved at the time of detection, will be treated as fraud and reported accordingly:

a. cases of cash shortages more than Rs.10,000/- and
b. cases of cash shortages more than Rs. 5000/- if detected by management /auditor / inspecting officer and not reported on the occurrence by the persons handling cash.

2. These instructions are being issued in exercise of powers vested in the Bank under Section 45K and 45L of the RBI Act, 1934.

3. A copy of the updated guidelines is enclosed for meticulous compliance.

Yours faithfully

(P. Krishnamurthy)
Chief General Manager In-Charge

RbiTtsCommonUtility

प्ले हो रहा है
കേൾക്കുക

Related Assets

RBI-Install-RBI-Content-Global

RbiSocialMediaUtility

റിസർവ് ബാങ്ക് ഓഫ് ഇന്ത്യ മൊബൈൽ ആപ്ലിക്കേഷൻ ഇൻസ്റ്റാൾ ചെയ്ത് ഏറ്റവും പുതിയ വാർത്തകളിലേക്ക് വേഗത്തിലുള്ള ആക്സസ് നേടുക!

Scan Your QR code to Install our app

RbiWasItHelpfulUtility

ഈ പേജ് സഹായകരമായിരുന്നോ?