The Reserve Bank of India (RBI) has cancelled the licence of Dr Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd, Nilanga, Latur, as it does not have adequate capital and earning prospects. The Maharashtra-based bank with its current financial position would be unable to pay its depositors in full, the central bank said while announcing the cancellation of its licence. The bank ceases to carry on banking business, with effect from the close of business.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
With the cancellation of its licence, the bank has been prohibited from conducting the business of ”banking” that includes acceptance of deposits and repayment of deposits with immediate effect.
Did you know that India has a painting that is often compared to the world-famous…
Did you know that some Indian states were not always known by their present names?…
The Government of India will launch a CBDC-based Food Subsidy Distribution Pilot under PMGKAY in…
Hindustan Oil Exploration Company (HOEC) has approved the CEO transition by appointing Baroruchi Mishra as…
Chief of the Army Staff General Upendra Dwivedi flagged in the Bharat RanBhoomi Darshan Expedition…
The Southern Air Command of the Indian Air Force successfully conducted a high tempo joint…