Markets closed on account of Mahavir Jayanti

All the futures commodities were closed for the festival, while base metals and precious metals on the Multi Commodity Exchange will open in the later half of the session at 1700 hours for regular trading

The Bombay Stock Exchange (BSE), National Stock Exchange (NSE), forex, money and all wholesale commodities markets including bullion will remain closed today on account of “Mahavir Jayanti”.

 

All the futures commodities were closed for the festival, while base metals and precious metals on the Multi Commodity Exchange will open in the later half of the session at 1700 hours for regular trading.

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RBI says will tweak KYC norms, if required

RBI deputy governor KC Chakrabarty said the central bank will introduce some corrective measures in KYC norms as and when necessary to check any “transaction-level aberrations” in the functioning of banks

Reserve Bank of India (RBI) deputy governor KC Chakrabarty on Tuesday said the central bank will introduce some corrective measures in KYC (know your customer) norms as and when necessary to check any “transaction-level aberrations” in the functioning of banks.

 

“(The) system is good, there is no problem. There are... (at the) transactional level, some aberration will always take place and there is a need to look into those issues and as and when it is necessary, banks will take the corrective measures. And if necessary, from the Reserve Bank, regulator side, we will issue the corrective measures,” he said.

 

Mr Chakrabarty was asked whether the RBI was contemplating a change in the norms in the wake of allegations by Cobrapost, an online magazine, that some officials of ICICI Bank, HDFC Bank and Axis Bank were involved in money laundering.

 

“We are examining... changing how the business is done,” he told reporters.

 

Asserting that there are no systemic issues involved, Mr Chakrabarty said the RBI had looked into the issue.

 

After a meeting with the RBI top brass last week, Rajiv Takru, secretary at the Department of Financial Services, had said that the central bank report points out to some ‘aberrations’, and assured action against the erring parties.

 

Mr Chakrabarty reiterated that there was no money laundering involved, adding that such talk is prompted by “financial illiteracy”.

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COMMENTS

MP

3 years ago

I have opened bank account and demat in HDFC bank near Borivali, as my husband insisted for it. Before signing the KYC documents I asked HDFC officer will it affect my all earlier MF investments details, like name and address, The person said no. Therefore, I signed the KYC documents.

I was never intended to change my name to new name.

After few months, I found my address on HDFC MF investment before marriage has changed to new address. As I am still staying at my old address in Pune and working in Pune, I asked them to change it to my Pune address with all Address proof with my before marriage name.

HDFC AMC officer has said your name is changed in CVL data and refused to accept it and said we cannot change it, unless there is a divorce certificate.

As mentioned in the above article, I can retain my before marriage name. What can be done to retain my before marriage name and my own residence address?

Why HDFC is so non-cooperative in sorting this matter?
Being a preganant woman, I am not able to live with this tension. It may affect my child by pre-matuare delivery.

Can you please help me and give me way to sort out this matter as earliest?

Saradha chief Sudipto Sen arrested in J&K

Sudipto Sen, chairman of the Saradha group, the chit fund company which has allegedly defrauded thousands of depositors, has been detained from Sonmarg in Jammu and Kashmir along with two other company officials

Sudipto Sen, the chairman of group, the chit fund company which has allegedly defrauded thousands of depositors, has been detained from Sonmarg in Jammu and Kashmir (J&K) along with two other company officials today, a senior police official said.

 

“Three persons have been detained in Sonmarg area of J&K. The police there have identified them as Sudipto Sen, Debjani Mukherjee and Arvind Singh Chauhan,” Bidhannagar Police Commissioner Rajeev Kumar informed the media.

 

A Scorpio vehicle with a West Bengal number-plate has also been seized, Kumar said.

 

“Our team is there, after completing all necessary legal procedures they will be produced in court there and efforts will be made to bring them back,” he said.

 

West Bengal chief minister Mamata Banerjee had earlier ordered Sen’s arrest and said that he was hiding somewhere in North India.

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COMMENTS

MOHAN

4 years ago

Another "GOLD QUEST" scam?

PRABHAT

4 years ago

THE TRIAL SHOULD BE SHORT AND FAST TO HANG SUCH PERSONS TO DEFRAUD COMMON MEN .

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