Categories: Banking

RBI imposes six-month ban on Manta Urban Cooperative Bank

The Reserve Bank of India (RBI) has banned the Manta Urban Cooperative Bank in Jalna district of Maharashtra for six months for payment of money and loan transactions. The central bank has given some instructions to this bank, which will be effective for six months since the bank closed on 17 November 2020.

Boost your General Awareness Knowledge with Adda247 Live Batch: TARGET GA BATCH | SBI Clerk Mains & RBI Assistant Mains Exams

According to these instructions, this bank will not be able to make any loan or loan without RBI permission, nor will it be able to renew the old loans and make any investment. Bank has also been banned from accepting new deposits. He will not be able to make any payment nor make any agreement to pay.

Important takeaways for all competitive exams:

Governor of RBI: Shaktikanta Das.
Deputy Governors of RBI: BP Kanungo, MK Jain, MD Patra and Rajeshwar Rao.
Headquarters of RBI: Mumbai, Maharashtra.

Find More Banking News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.