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

by Admin on June 11, 2013 · 0 comments · Bank


Jain Co-Operative Bank Ltd, 80 Darya Ganj, New Delhi - Penalised, 9.0 out of 10 based on 1 rating

The Reserve Bank of India has imposed a monetary penalty of Rs.2 lakh (Rs. Two lakh ) on the Jain Cooperative  Bank Ltd, 80 Darya Ganj, New Delhi -110002 in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949( As Applicable to co-operative Societies ) 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.

 






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Admin June 11, 2013

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