As per the data submitted by the bank, 99.53 per cent of the depositors are entitled to receive the full amount of their deposits from DICGC, the RBI said. Giving reasons behind the cancellation of the licence, the central bank said Lucknow Urban Co-operative Bank does not have adequate capital and earning prospects.
The Reserve Bank of India (RBI) has cancelled the license of the Kapol Co-operative Bank Limited. This means that the bank is no longer allowed to do any banking business, including accepting or repaying deposits.
The Reserve Bank of India (RBI) has cancelled the banking licence of Nashik Zilla Girna Sahakari Bank Limited due to inadequate capital and earning prospects. The bank is now prohibited from conducting any banking activities, including accepting and repaying deposits. The Maharashtra Cooperative Department has been requested to wind up the bank and appoint a liquidator. Depositors will be entitled to receive up to Rs 5 lakh in deposit insurance from the Deposit Insurance and Credit Guarantee Corporation (DICGC).