RBI Penalises Siwan Central Co-operative Bank Ltd., Siwan


As Siwan Central Co-operative Bank Ltd., Siwan, did not adhere to RBI’s guidelines on to Know Your Customers (KYC) norms and Anti Money Laundering (AML) guidelines, Reserve Bank of India imposed a monetary penalty of Rs5.00 lakh (Rupees five lakh only) on the Bank.

Siwan is a district located in Bihar. The most prominent citizen from Siwan is Dr. Rajendra Prasad, the first president of India. Dr. Rajendra Prasad hailed from  Jiradeyi village, 8 km west of Siwan town.

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