RBI cancels licence of Hiriyur Urban Co-op bank with immediate effect
11 months, 1 week ago

RBI cancels licence of Hiriyur Urban Co-op bank with immediate effect

The Hindu  

The Reserve Bank of India cancelled the licence of The Hiriyur Urban Co-operative Bank Ltd in Karnataka, on January 12. “The, vide order dated January 12, 2024, has cancelled the licence of “The Hiriyur Urban Co-operative Bank Ltd., Hiriyur”. Hiriyur Urban Co-operative Bank does not have adequate capital and earning prospects. Consequent to the cancellation of its licence, The Hiriyur Urban Co-operative Bank Ltd is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5 read with Section 56 of the Banking Regulation Act, 1949 with immediate effect,’‘according to RBI communique released by Yogesh Dayal, Chief General Manager of RBI.

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History of this topic

RBI Cancels Licence Of Kerala-based Ananthasayanam Co-operative Bank
1 year, 3 months ago

RBI Cancels Licence Of Kerala-based Ananthasayanam Co-operative Bank

News 18  

The Reserve Bank of India, on September 21, cancelled the license of The Ananthasayanam Co-operative Bank. In the release, the RBI said, “This makes it obligatory on the part of The Ananthasayanam Co-operative Bank Ltd., Trivandrum to stop conducting the business of ‘banking’ within the meaning of section 5 of the Act ibid, including acceptance of deposits from non-members with …

RBI Cancels Licence of Solapur-based Laxmi Co-operative Bank
2 years, 3 months ago

RBI Cancels Licence of Solapur-based Laxmi Co-operative Bank

News 18  

The Reserve Bank of India on Thursday said it has cancelled the licence of Solapur based The Laxmi Co-operative Bank Limited as the lender does not have adequate capital and earning prospects. As per the data submitted by the cooperative bank, more than 99 per cent of the depositors are entitled to receive full amount of their deposits from Deposit …

RBI cancels license of Maharashtra's Laxmi Co-operative Bank, depositers can claim up to THIS much amount
2 years, 3 months ago

RBI cancels license of Maharashtra's Laxmi Co-operative Bank, depositers can claim up to THIS much amount

India TV News  

Maharashtra's Laxmi Co-operative Bank news: The Reserve Bank of India on Thursday cancelled the licence of Maharashtra's Laxmi Co-operative Bank Limited. “The Laxmi Co-operative Bank Limited, Solapur, Maharashtra is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5 read with Section 56 of the Banking …

RBI cancels licence of THIS bank. Check details
3 years, 6 months ago

RBI cancels licence of THIS bank. Check details

India TV News  

The Reserve Bank of India has cancelled the licence of the Pune-based Shivajirao Bhosale Sahakari Bank. As per data submitted by Shivajirao Bhosale Sahakari Bank, more than 98 per cent of the depositors will receive full amount of their deposits from the Deposit Insurance and Credit Guarantee Corporation, the RBI said in a release. Giving details, the RBI said the …

RBI cancels licence of THIS Maharashtra bank
3 years, 11 months ago

RBI cancels licence of THIS Maharashtra bank

India TV News  

The RBI on Thursday said it has cancelled the licence of Subhadra Local Area Bank, Kolhapur, as its affairs were conducted in a "manner detrimental" to the interests of its present and future depositors. However, Subhadra Local Area Bank has enough liquidity to pay all its depositors, it added. "Public interest would be adversely affected if it is allowed to …

RBI Cancels Licence of Karad Janata Sahakari Bank Due to Lack of Adequate Capital, Earning Prospects
4 years ago

RBI Cancels Licence of Karad Janata Sahakari Bank Due to Lack of Adequate Capital, Earning Prospects

News 18  

The RBI on Tuesday said it has cancelled the licence of The Karad Janata Sahakari Bank Ltd, Karad, Maharashtra, as it does not have adequate capital and earning prospects. More than 99 per cent of the depositors of the bank will get full payment of their deposits from Deposit Insurance and Credit Guarantee Corporation, the Reserve Bank said in a …

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