The Gondal Nagrik Sahakari Bank Ltd., Gondal – Penalised.

A monetary penalty of Rs5.00lacs has been imponsed on The Gondal Nagrik Sahakari Bank Ltd., Gondal by Reserve Bank of India.


The steep penalty was necessitated due to :

  1. for granting loan to Directors,

  2. not correctly reporting loans to directors to Reserve Bank of India in the statutory returns on advances to directors and

  3. not submitting Cash Transaction Reports (CTRs) to Financial Intelligence Unit-India (FIU-IND), New Delhi.


Gondal is part of the Indian state of Gujarat around 60 km from the district headquarter of Junagadh.


Gondal is connected to Rajkot, a major transport hub, by a good road network.


Gondal was a princely state, and hence the major sight seeing places are its palaces.

The Naulakha Palace is the oldest extant palace in Gondal, dating back to the 17th century. The palace is full of legendary stone carvings with exquisite “jharokhas” (balconies), a fabulous pillared courtyard, delicately carved arches, and a unique spiral staircase. The large chandelier-lit “durbar” hall (court house) witnesses stuffed panthers, gilt wooden furniture, and antique mirrors. The Private palace museum displays an impressive display of silver caskets which were in the services of carrying messages and gifts for Maharajah Bhagwat Sinhji on his silver jubilee as ruler of Gondal.


The Royal Garages have an extensive collection of vintage and classic cars including a 1910 New Engine, a Delage and a Daimler from the 1920s, a 1935 Mercedes, 1935 Packard two-door convertible, 1941 and 1947 Cadillac, 1955 Cadillac limousine, sports cars from the 1950s and 1960s like the Mercedes 300 SL, Jaguar XK 150 and Chevrolet Camaro, numerous imposing American cars of the 1940s and 1950s, a fleet of four-wheel drive vehicles from the World War II and post-war period, and some contemporary sports cars. .


Major restoration work has been done on the cars and hence, most of them can be viewed by the visitors in their full splendor. 


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