Amit Retharekar
I am an anti-money laundering consultant primarily assisting banks in FIU IND and RBI compliance for anti money laundering and BCSBI matters both in Karnataka and Maharashtra.
I have a query with respect to Non scheduled urban cooperative banks under taking Insurance Referral business.
As per the Circulars Non Scheduled Coop banks cannot carry on the para banking activity of Insurance as a Corporate Agent of insurance companies.
However my query is can they undertake “Referral Insurance Business”. I could not find any relevant RBI guideline to confirm the same.
I C Naik
www.indiancooperative.com solicit voluntary support of professionals to help guide bonafide cooperators solve their problems they face in their cooperatives. So we would rather expect support from you.
