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Bank audit

This query is : Resolved 
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(Querist)
09 January 2012 please,
explain me that how to calculate the penal interest due to non submission of stock statement.

please reply soon

thank you
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Yogesh Agarwal

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Yogesh Agarwal (Expert)
11 January 2012 Just go through the sanction letter.. there the system related to charging of penal interest for failure to comply with the conditions laid down is given.... The method should be first be known from the bank itself...and see whether the charges levied is same...
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