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RBI Cancels Licence Of Madhya-Pradesh-Based Garha Co-operative Bank

The Reserve Bank of India on Monday cancelled licence of Garha Co-operative Bank, Guna in Madhya Pradesh as the lender does not have adequate capital and earning prospects.

About 98.4% of the depositors of the co-operative bank are entitled to receive full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation, the RBI said in a statement. ....

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