Wachovia Bank NA will pay $160 million to the US authorities to settle allegations related to its anti-money laundering compliance programme.
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
An "accidental" remark he wished he had never made is behind AB de Villiers' rapid ascent into the top-rank of the world's leading batsmen, the South African said on Tuesday.
The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
Inflation is likely to peak at 8.7 per cent by end-March and the Reserve Bank is likely to begin tightening its monetary policy from its January policy review itself, a report by Bank of America Merrill Lynch (BofAML) has said.
The International Monetary Fund will launch a donor-supported fund to combat money laundering and terror fund, a growing menace in the financial world.
With Indian banks going global they are increasingly getting conscious of implementing anti-money laundering techniques.
Team Vinay (www.helpvinay.org) and Team Sameer (www.helpsameer.org) are coordinating efforts for bone marrow registration among South Asians
The US State Department, in its Congressional mandated annual Country Reports on Terrorism for the year 2018, on Friday said even though the Pakistani government voiced support for political reconciliation between the Afghan government and the Taliban, it did not restrict the terror group and the Haqqani Network from operating in Pakistan-based safe havens and threatening the US and Afghan forces in Afghanistan.
The conviction levels are still low.
The hits and misses of the week.
The hits and misses of the week.
India's stand at the FATF plenary and other related discussions have always been consistent regarding Pakistan.
Jailed former prime minister Nawaz Sharif's Pakistan Muslim League-Nawaz with 64 and former president Asif Ali Zardari's Pakistan Peoples Party with 43 seats are placed at number two and three respectively, the Election Commission of Pakistan said.
The move comes at a time when the traditional software maintenance and support works, once the bread and butter for export-driven IT services business, are slowly drying up.
The agency's probe till now found that huge monies were transferred through RTGS transfers to some shell companies including a case where the director of such a firm was a petty labourer
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
The APG released its much-awaited 228-page 'Mutual Evaluation Report' on Saturday, 10 days ahead of the key Financial Action Task Force's plenary meeting which will give its decision on Pakistan's 'grey list' status.
With this, multilateral lenders like the International Monetary Fund, the World Bank and the European Union may continue downgrading Pakistan, making its financial situation more precarious.
India handed over a dossier to Pakistan to take action against the JeM, as pressure mounted on Islamabad to take action against individual and organisation listed by the UN Security Council as terrorists.
The FATF continuing Pakistan in the 'Grey' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch.
The Reserve Bank of India (RBI) is likely to take a "more dovish" stance in its upcoming monetary policy review on December 2 and may go in for a cut repo rate in February, according to a British brokerage house report.
Facing black money investigations in India and several other countries, global banking giant HSBC on Monday said it is also being probed in the US for hiring candidates related to government officials in Asia Pacific.
A sessions court on Friday convicted six accused in the murder case of matka-king Suresh Bhagat, including his wife and son.
Pressure has been mounting on the Reserve Bank of India to cut interest rates in the wake of declining retail inflation and the need to fuel growth momentum. However, the RBI will have to do a tightrope walk as globally interest rates are inching upwards.
US brokerage Bank of America-Merrill Lynch on Tuesday said its sees the first rate cut this fiscal only in March next as inflation is expected to fall only by December end on a decline in commodity prices driven by the US Fed tapering.
The IPO is expected to bring handsome fees for the selected banks at a time when billion-dollar listings have become scarce
In the Anti Money Laundering (AML) Basel Index 2013 India has been ranked 93rd and 70th in 2012 and 2013 respectively out of 140 countries.
There will be tripartite pact with member, bank/housing agency and EPFO.
According to Pakistan's National Counter Terrorism Authority (NACTA) list, which was updated on Tuesday, JuD and FIF were among 70 organisations proscribed by the ministry of Interior under the Anti-Terrorism Act 1997.
The RBI on Friday imposed a fine of Rs 6.5 crore (Rs 65 million) on six public sector banks including IDBI Bank, Dena Bank and Indian Bank, for violation of customer identification or KYC norms and anti-money laundering guidelines.
Demonetisation impact, earnings growth, central bank policies will get attention.
RIL's standalone net profit rose one per cent quarter-on-quarter
Merrill Lynch jumps to first from 7th last year in a smaller market; says its focus is larger deals and clients.
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