Reserve Bank of India (RBI) has cancelled the licence of United Co-operative Bank Ltd over inadequate capital, regulatory non-compliance, based in Bagnan, West Bengal. Through an order dated May 10, 2021, the central bank has prohibited the co-operative lender from carrying on banking business, with effect from the close of business on May 13, 2021.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
RBI said it cancelled the licence as United Co-operative Bank did not have adequate capital and earning prospects. “As such, it does not comply with the provisions of section 11(1) and section 22(3)(d) read with section 56 of the Banking Regulation Act, 1949.
Important takeaways for all competitive exams:
On 16th October 2026, the Union government has recreated the Financial Services Institutions Bureau (FSIB),…
The private defence sector in India is currently designing technology in a bid to address…
ISRO successfully carried out a series of CM-SM separation tests of its upcoming Gaganyaan human…
The World Health Summit 2026 was held in Berlin, Germany, with the new funding pledges,…
On October 16th 2026, the Ministry of External Affairs (MEA) has appointed Sudhakar Dalela as…
India’s Assam Regiment has bagged a gold medal in Exercise Cambrian Patrol 2026, an international…