Alkem Laboratories Ltd Board recommends Final Dividend of Rs 5 equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Source: Reserve Bank of India
Today, the Reserve Bank of India (RBI) has, vide order dated May 10, 2021 cancelled the licence of United Co-operative Bank Ltd., Bagnan, West Bengal. Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 13, 2021. The Registrar of Cooperative Societies, West Bengal has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
The Reserve Bank cancelled the licence of the bank as:
The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of section 11(1) and section 22 (3) (d) read with section 56 of the Banking Regulation Act, 1949.
RBI cancels licence of Bhagyodaya Friends UCB; 98% depositors to get money
Continuance of bank prejudicial to interests of depositors: RBI
The Reserve Bank of India has cancelled the licence of Bhagyodaya Friends Urban Co-operative Bank Limited, Warud, based in Amravati, Maharashtra. “Consequently, the bank ceases to carry on banking business, with effect from the close of business on April 22, 2021”, reads a RBI release.
The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the bank because it did not have adequate capital and earning prospects.
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