The Reserve Bank of India has just issued (I mean I just saw it at 9.30pm) a circular signed by its CGM – Alpana Killawala.


This says the investigation of the episode (where they had showed bankers talking about money laundering) will be over by 31st March, 2013.

Great. The investigation will exonerate the banks – after all the client is giving the kyc, a cheque (no matter where it is drawn – some co-op bank?), and Pan and kyc are in place.

REMEMBER: The bank which has the GOLD makes the GOLDEN RULESĀ  of Banking.

Ha! but yes more documentation could be introduced in the kyc.


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