Concerned over violation of norms by banks, the Reserve Bank of India has asked them not to transfer overseas funds without government's permission from 10 specified donor agencies, including Greenpeace International. The RBI, in a communication to co-operative banks, said that a couple of instances of some banks crediting fund flow from one of the foreign donor agencies without obtaining prior permission of the Ministry of Home Affairs have been noticed, which is a matter of serious concern. The apex bank asked them to ensure meticulous compliance to the directions issued by the Government.
News On AIR | January 16, 2015 6:43 AM
RBI asks banks not to transfer funds without govt's permission from Greenpeace, 9 others