Due to the lender’s worsening financial situation, the RBI imposed a number of limitations on Mumbai-based Raigad Sahakari Bank, including a withdrawal cap of Rs 15,000 per customer. The cooperative bank is subject to a number of restrictions, including the inability to issue loans, make any investments, or take new deposits without RBI‘s prior approval.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
KEY POINTS:
About Raigad Sahakari Bank:
On September 30, 1960, the Raigad Sahakari Bank or Raigad District Central Co-operative Bank was founded. The bank received a banking licence from the Reserve Bank of India on November 11th, 1995. In 1997, Jayant Prabhakar Patil (MLC) became the bank’s chairman. It was introduced on May 18, 2013, and is the first District Cooperative Central Bank in India to offer the Kisan Credit Card.
In a strategic move to bolster its financial services division, Paytm has announced significant leadership…
West Bengal's political landscape boasts a legacy of dynamic leadership, with a succession of Chief…
The Reserve Bank of India (RBI) has disclosed that 97.76% of the Rs 2000 denomination…
The People's Republic of China has reclaimed its throne as the top badminton nation, clinching…
In response to a public interest litigation (PIL) on child marriage, the Rajasthan High Court…
In a remarkable feat, The Hindu secured three prestigious awards at the 6th International Newspaper…