Jain Co-Operative Bank Ltd, 80 Darya Ganj, New Delhi – Penalised


The Reserve Bank of India has imposed a monetary penalty of Rs2 lakh (Rs Two lakh ) on the Jain Cooperative  Bank Ltd, 80 Darya Ganj, New Delhi -110002.

The penalty was imposed for

  • violations on inter-bank exposure limit,
  • exposure to real estate sector,
  • non-adherence to KYC guidelines,
  • non-adherence to the Do’s and Don’ts prescribed for Board of Directors,
  • loans to Directors and their relatives,
  • non- submission of compliance to previous RBI reports
  • etc.

 

The Reserve Bank of India penalized the bank after issuing a show cause notice and examining its written reply. There was no personal hearing.

Daryaganj is a major commercial hub of Old Delhi, with a history dating back to early 1800s’.

Daryaganj (literally “River Trading Post/Warehouse”) is a neighbourhood of Delhi inside the walled city of Shahjahanabad (Old Delhi). The “darya” (lit. “River”) refers to the river Yamuna which was just outside the walled city.

 

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