Page 19 - Banking Finance November 2022

ration (DICGC), the central bank said Additionally, the RBI has also imposed pose. An informer gave a tip-off about
in a release. a monetary penalty of Rs 20 lakh on his activity and he was nabbed," said

The cooperative bank ceases to carry Vasai Vikas Sahakari Bank for report- the senior cop.
on banking business, with effect from ing frauds with delay, according to
On October 15, Dubey had facilitated
the close of business. another release.
the entry of the fraudsters into the
It also said the Vijayapur-based bank bank located in Hazrtaganj.
with its present financial position Rs 146 crore Cooperative
However, police are yet to find the
would be unable to pay its present
Bank fraud in Uttar device, used by the miscreants to
depositors in full.
breach the bank's server.
Pradesh: 1 more held
The RBI has requested the Commis-
sioner for Cooperation and Registrar of The cyber crime unit of Uttar Pradesh
Cooperative Societies, Karnataka, to police nabbed one more accused in
issue an order for winding up the bank connection with the Rs 146 crore Co- Attention Subscribers
and appoint a liquidator for the bank. operative Bank fraud. The accused Please renew your Subscription of
identified as Satish Kumar (32) of Kakori Banking Finance Journal to receive
RBI penalises three coop- Lucknow was carrying a cash reward copy of the journal uninterruptedly.
of Rs 25,000 on his head.
erative banks for violating You can now pay by GPAY, Phonepe,
He was assigned with the task to Paytm, Amazon, ICICI Pay, BHIM UPI
norms
encash the money transferred by cyber
The Reserve Bank of India (RBI) on
hackers to bank accounts of the ben-
October 3 imposed a monetary penalty
eficiaries.
on three Maharashtra-based coopera-
Earlier, the police had arrested former
tive banks for not complying with regu-
employee of the bank RS Dubey of
latory norms.
Indira Nagar and a beneficiary,
The central bank has imposed a pen-
Sukhsagar Singh Chauhan, of Gomti
alty of Rs 18.50 lakh on Nagpur Nagarik
Nagar in this connection.
Sahakari Bank for accepting fixed de-
posits from other urban cooperative In the digital transfer of money,
banks, despite being ineligible for the Sukhsagar's company had got Rs 74
same, according to a release. crore. During interrogation, Dubey had
disclosed the names of his aides--
The RBI has also penalised
Umesh Kumar Giri, Gyan Dev Pal, Ravi
Rajarambapu Sahakari Bank with a fine
Singh Verma and Satish Kumar.
of Rs 28 lakh as the bank had not pro-
vided a direct link for its customers to SP cyber cell, Triveni Singh said police
lodge complaints, with a specific option had announced a cash reward for ar-
to report unauthorised electronic bank- rest of the absconders.
ing transactions, on the home page of
"Satish was nabbed by a police team
its website, the central bank said in a You can also make payment for
on Sunday near the Engineering Col-
separate release. The bank had also purchase of Books/Exam Guides
lege crossing," said the senior cop.
not paid applicable interest on balance from www.sashipublications.com
"He had fled to Delhi to evade police
amounts lying in current accounts of through above QR Code
arrest and look for options to get the
deceased individual depositors or sole
For any query please call
digitally transferred money converted
proprietorship concerns while making
9073791022/9883398055
repayments to the claimants, said the into hard cash," said the senior cop.
www.sashipublications.com
central bank. "He contacted cyber thugs for the pur-
BANKING FINANCE | NOVEMBER | 2022 | 19