Big conspiracy to protect and promote black money and corruption
Status as on 19 Sep 2016
Registration Number : PMOPG/E/2016/0122119
Name Of Complainant : Dayananda Kamath K
Date of Receipt : 15 Apr 2016
Received by : Prime Ministers Office
Forwarded to : FOREIGN EXCHANGE DEPARTMENT
Contact Address : RBI
C O BUILDING
11 FLOOR400001
Contact Number : 02222610579
Grievance Description : HSBC India under RBI lens for breaches. Business line dated23/2/2016.Will it be only under lens and no action as is the practice by RBI. In case of goldgate scam where banks are allowed to violate import policy and FEMA.for five years and stopped with just a circular that such transactions are not in order. 86btanches did such transactions by almost all banks. In this case also RBI has not put in place systems to monitor LRS transactions and every other bank might have breached so no action. Even Bob scam was due to lack of clear guidelines for monitoring import payments below 1 lakh dollars and every other banks may have such scams. So every body has wronged and RBI itself at fault in all these cases. So will they initiate action or try to sweep under the carpet with support of every govt authority including judiciary.
Current Status : CASE CLOSED
Date of Action : 08 Sep 2016
Details : In this regard, our comments are given below: 1. In pursuit of the policy to improve the ease of doing business as desired by GoI/public and to reduce paperwork/number of forms often some relaxations have to be done in the monitoring mechanism in consultation with the GoI. 2. RBI has throughout been very proactive in putting in place systems and processes to make monitoring foolproof and convenient and has lead from the front in implementation of Export Data Processing Monitoring System(EDPMS) as well as IDPMS for imports which is being shortly put in place. 3. RBI is not a law enforcing agency but is a regulatory body and has only recently imposed huge penalties on many banks for FEMA and other regulatory violations, therefore the allegation of sweeping under the carpet does not hold true. 4. It should be kept in mind that many of these scams including the BOB scam was more due to staff collusion/laxity than due to regulatory loopholes. 5. However, after the detection of any such lacunae RBI has quickly stepped in along with other law enforcing agencies to plug loopholes.
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The issue here is action against gold gate scam but they justify their action quoting penalties imposed on banks about kyc norms.
Does it mean it is conspiracy by all govt authorities to protect and promote black money. Why RBI did not report the scam to Enforcement Directorate,
And all govt authorities have joined together to punish the officer who brought out these irregularities so that no other person dares to bring out irregularities.
May be only a public opinion will wake up these authorities. The way they have closed the matter shows it more
Registration Number : PMOPG/E/2016/0122119
Name Of Complainant : Dayananda Kamath K
Date of Receipt : 15 Apr 2016
Received by : Prime Ministers Office
Forwarded to : FOREIGN EXCHANGE DEPARTMENT
Contact Address : RBI
C O BUILDING
11 FLOOR400001
Contact Number : 02222610579
Grievance Description : HSBC India under RBI lens for breaches. Business line dated23/2/2016.Will it be only under lens and no action as is the practice by RBI. In case of goldgate scam where banks are allowed to violate import policy and FEMA.for five years and stopped with just a circular that such transactions are not in order. 86btanches did such transactions by almost all banks. In this case also RBI has not put in place systems to monitor LRS transactions and every other bank might have breached so no action. Even Bob scam was due to lack of clear guidelines for monitoring import payments below 1 lakh dollars and every other banks may have such scams. So every body has wronged and RBI itself at fault in all these cases. So will they initiate action or try to sweep under the carpet with support of every govt authority including judiciary.
Current Status : CASE CLOSED
Date of Action : 08 Sep 2016
Details : In this regard, our comments are given below: 1. In pursuit of the policy to improve the ease of doing business as desired by GoI/public and to reduce paperwork/number of forms often some relaxations have to be done in the monitoring mechanism in consultation with the GoI. 2. RBI has throughout been very proactive in putting in place systems and processes to make monitoring foolproof and convenient and has lead from the front in implementation of Export Data Processing Monitoring System(EDPMS) as well as IDPMS for imports which is being shortly put in place. 3. RBI is not a law enforcing agency but is a regulatory body and has only recently imposed huge penalties on many banks for FEMA and other regulatory violations, therefore the allegation of sweeping under the carpet does not hold true. 4. It should be kept in mind that many of these scams including the BOB scam was more due to staff collusion/laxity than due to regulatory loopholes. 5. However, after the detection of any such lacunae RBI has quickly stepped in along with other law enforcing agencies to plug loopholes.
Please Give Your Valuable Feedback
Excellent Very Good Good Average Poor
Poor
The issue here is action against gold gate scam but they justify their action quoting penalties imposed on banks about kyc norms.
Does it mean it is conspiracy by all govt authorities to protect and promote black money. Why RBI did not report the scam to Enforcement Directorate,
And all govt authorities have joined together to punish the officer who brought out these irregularities so that no other person dares to bring out irregularities.
May be only a public opinion will wake up these authorities. The way they have closed the matter shows it more
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