RBI Cancels Punjab-Based Co-operative Bank's Licence

RBI issued new order: Big news! RBI cancelled the license of another bank, RBI issued notification - Business League

Another bank customer is in big trouble. Reserve Bank of India (RBI) has taken a big action and the license of the bank has been canceled. Another bank customer is in big trouble. Reserve Bank of India (RBI) has taken a big action. RBI has announced to cancel the license of a co-operative bank. The central bank said on Friday that it has canceled the license of Imperial Urban Co-operative Bank located in Jalandhar, Punjab. According to RBI, the …

RBI Cancels Punjab-Based Co-operative Bank's Licence

The Reserve Bank of India on Friday said it has cancelled the licence of Jalandhar-based Imperial Urban Co-operative Bank as the lender does not have adequate capital and earning prospects.The Registrar of Cooperative Societies, Government of Punjab has also been requested to issue an order for winding up of the bank and appoint a liquidator for the bank.On liquidation, every depositor would be entitled to receive deposit insurance claim amount …

RBI cancels licence of Jalandhar-based Imperial Urban Co-operative Bank

Mumbai: The Reserve Bank of India on Friday said it has cancelled the licence of Jalandhar-based Imperial Urban Co-operative Bank as the lender does not have adequate capital and earning prospects. The Registrar of Cooperative Societies, Government of Punjab has also been requested to issue an order for winding up of the bank and appoint a liquidator for the bank. On liquidation, every depositor would be entitled to receive deposit insurance cla…