About JSR
JSR Grain Energy Private Limited (“JSR”), established in August 2021 and headquartered in West Bengal, is a fast-emerging player in India’s ethanol sector. With a strong vision to contribute to India’s biofuel and green energy goals, JSR is developing a state-of-the-art ethanol manufacturing facility in Malda district, valued at around ₹266 crores.
The company has already secured a long-term offtake agreement with Oil Marketing Companies (OMCs), ensuring a stable and sustainable demand for its ethanol production. Promoted by three business families from Eastern India with a collective turnover of approximately ₹1,300 crores in FY23, JSR draws strength from decades of experience in grain trading, edible oil, rice, and jute manufacturing. Under the leadership of Mr. Rajendra Kumar Jain and a team of experienced professionals, the company is well on its way to becoming a key contributor to India’s renewable energy movement.
Challenges
Large-scale projects often come with large-scale complexities — and JSR’s ethanol plant was no exception. With credit facilities totaling nearly ₹210 crores spread across multiple banks, led by State Bank of India (SBI), the company’s banking operations were extensive and intricate.
However, JSR lacked a dedicated internal system to verify whether the bank’s applied interest rates and commitment charges truly matched the sanctioned terms. As months passed, small anomalies began to appear, raising suspicion that excess charges might be silently draining working capital.
And as the saying goes, “It’s not the big expenses that break you — it’s the ones you never notice.”
Our Strategic Approach
BankKeeping stepped in with a comprehensive, data-driven audit of all JSR’s banking charges (Interest, Charges, Commissions) — from term loans to cash credit facilities and commitment charges — starting from FY2023.
The data driven approach deployed by our software product which combed through all charges and recalculated the actual interest payable to the Bank, our Product uncovered systemic overcharging by SBI amounting to nearly ₹2.6 crores across various accounts. Once identified through the software, our team stepped in and shared the findings after consolidating them into a transparent, evidence-backed report and presented to the bank’s credit and treasury departments.
What followed were detailed discussions, where BankKeeping’s experts demonstrated exactly how the overcharges occurred and how they could be corrected. The result was swift: SBI acknowledged the discrepancies and reversed ₹60 lakhs immediately in excess commitment charges. Simultaneously, efforts are underway to recover an additional ₹2 crores from previous financial years — supported by documented proof and regulatory clarity.
Results Delivered
“Every rupee saved is a brick added to your future growth.”
BankKeeping’s intervention not only led to the reversal of ₹60 lakhs in excess charges but also helped JSR establish a cleaner, more transparent banking relationship. Another ₹2 crores in pending recoveries remain under active review with SBI.
Beyond the numbers, the impact was structural — JSR now continuously uses Bankkeeping and thus operates with strengthened financial control systems, verified rate applications, and a more disciplined credit management process. What was once a financial blind spot has now become a source of competitive advantage and confidence.
At phase II, JSR, its team and Bankkeeping’s experts are working hard to reduce the rate at which JSR borrows money.
How Bankkeeping optimizes your banking cost
For JSR, every recovered rupee now fuels its mission to power India with greener energy. The reclaimed funds are being redirected to accelerate plant operations, improve liquidity, and strengthen future expansion.
At BankKeeping, we believe that financial clarity is financial power. By uncovering hidden overcharges and helping companies negotiate better banking terms, we don’t just recover costs — we build financial systems that sustain growth for years to come.
→ Turn unnoticed banking errors into real savings — Talk to BankKeeping today.