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
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.