RBI cancels licenses of two co-operative banks in Maharashtra, Karnataka ...Middle East

The Reserve Bank of India (RBI) on Wednesday said it has cancelled the banking licenses of two co-operative banks in Maharashtra and Karnataka. The licenses of Malkapur Urban Co-operative Bank Ltd, Buldhana and Shushruti Souharda Sahakara Bank Niyamita, Bengaluru have been cancelled. The two co-operative banks ceased to carry on banking business with effect from the close of business on Wednesday, RBI said in two separate statements. These banks did not have adequate capital and earning prospects, RBI said, adding that with their present financial position, they would be unable to pay their present depositors in full. On liquidation, every depositor would be entitled to receive deposit insur

Hence then, the article about rbi cancels licenses of two co operative banks in maharashtra karnataka was published today ( Wednesday 05/07/2023 - 08:44 PM ) and is available on Business Standard ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( RBI cancels licenses of two co-operative banks in Maharashtra, Karnataka )

Also on site :

• Coda and Unity to enable out-of-app monetization for game developers globally
• MOVA Unveils 'the M∞VA Universe' at Silicon Valley Launch, Positioning as a Global Premium AI Smart Living Leader
• MOVA Launches Cleaning Solutions in Silicon Valley: Finding Answers for Premium Cleaning Through Pragmatic Innovation