Below are few proofs of the income credited to the panelists of SAOL after the media raised questions on SAOL.
Post 11th May, there were lot of questions circulating in everyone's mind about the RBI clearance. Let me ask one question, do you think that any internet money transaction in or out of the country is possible without following RBI guidelines? Whenever you do inter-bank transaction, it goes through RBI.
RBI is only concerned about the validity of the Payor and Payee. After this it acts like a monitoring body for the transaction so that in case of any dispute, it can solve the issue. This is the reason why Inter-bank transfer takes some time and intra-bank does not. These come under RTGS and NEFT transactions.
SWIFT transactions can be understood in the same way as NEFT and RTGS, the difference lies in the currency being transferred in or out of India. When the transactions inside our country can not be processed without follwoing RBI guidelines, how international transfer is possible? SAOL has been following all the guidelines and that is why their partner banks for money remitance in India are able to pay money in different accounts in India. The proof is all the bank statments which got credits through UOB (United Overseas Bank) from Singapore.
After all the media hype starting from 11th May, and because of the pressure created by media and some political leaders, RBI probed into the legality of the money flowing through SAOL business in and out of India. During this time the money remittance was put on hold in India and that is why the delay in payments in many accounts. In simple words, RBI asked the partner banks of SAOL to hold on the payments which were supposed to be credited to panelist in India.
This is all was done post 11th May media attacks on SAOL. But, once again RBI gave clearance for these payments. This clearance is in form of the green signal from RBI to continue the transactions for SAOL to its partner banks.
This is all was done post 11th May media attacks on SAOL. But, once again RBI gave clearance for these payments. This clearance is in form of the green signal from RBI to continue the transactions for SAOL to its partner banks.
So if even 1 payment is seen in any bank account post 11th May, it is only because the comapny is following RBI guidelines and the transactions are cleared after RBI probe.
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Source: http://www.bizbasket.net/2011/05/rbi-cleared-bank-transactions.html
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