The Gujarat Urban Co-operative Banks Federation (GUCBF) organised a one-day training programme on FIU-IND (Financial Intelligence Unit–India) last week at its office in Ahmedabad.
The session aimed to strengthen awareness and compliance among co-operative banks with regard to the Prevention of Money Laundering Act (PMLA) and FIU-IND reporting guidelines.
The programme, specially arranged for co-operative banks from Ahmedabad and Gandhinagar districts, witnessed participation from around 70 officials representing 42 Urban Co-operative Banks.
The training was conducted by Satish Kumar, Joint Director, and Rajan Kannojia, Consultant, from FIU-IND, New Delhi. They elaborated on key aspects of compliance, including Suspicious Transaction Reports (STRs), Cash Transaction Reports (CTRs), and best practices for effective reporting and monitoring.
A representative from The Kalupur Commercial Co-operative Bank also shared practical insights on STR/CTR uploading processes and highlighted the robust compliance framework adopted by the bank to ensure timely and accurate reporting.
Expressing gratitude to the FIU-IND officials for their valuable guidance, the Federation reaffirmed its commitment to organising similar capacity-building and awareness programmes in the future to enhance compliance standards among member banks.