MANU/RMIC/0079/2016

Ministry : Reserve Bank of India

Department/Board : Department of Co operative Banking Regulation

Circular No. : DCBS.CO.Cir.No.001/12.17.001/2015-2016
                   RBI/2015-2016/399

Date : 19.05.2016

Notification/ Circulars Referred : Circular no. DCBR.CO.BPD.MC.No.1/12.05.001/2015-16 on Frauds- Classification and Reporting dated July 01, 2015 MANU/RMIC/0232/2015

Citing Reference:
Circular no. DCBR.CO.BPD.MC.No.1/12.05.001/2015-16 on Frauds- Classification and Reporting dated July 01, 2015 MANU/RMIC/0232/2015  Referred

The Chief Executive Officer
All Primary (Urban) Co-operative Banks

Dear Sir / Madam,

Frauds in UCBs: Changes in Monitoring and Reporting mechanism

Please refer to our Master circular no. DCBR.CO.BPD.MC.No.1/12.05.001/2015-16 on Frauds- Classification and Reporting dated July 01, 2015.

2. On a review, it has been decided to change the fraud monitoring and reporting mechanism at the Regional Offices and Central Fraud Monitoring Cell (CFMC) of the RBI. Accordingly, henceforth:

i. Frauds below ` 1.00 crore will be monitored by the respective Regional Office of the Department of Co-operative Bank Supervision (DCBS), RBI under whose jurisdiction the Head Office of the bank falls and

ii. Frauds of ` 1.00 crore and above will be monitored by CFMC, RBI, Bengaluru.

3. Reporting of frauds by UCBs:

Consequently, the reporting mechanism for fraud cases will be as under:

........