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Yet another online gambling arrest in India underscores need for regulation orissapost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orissapost.com Daily Mail and Mail on Sunday newspapers.
RBI cancels licence of Goa based Madgaum Urban Co-op Bank Public interest would be adversely affected if the bank continues: RBI In an order dated July 27 th, 2021 the Reserve Bank of India has cancelled the licence of The Madgaum Urban Co-operative Bank Limited, Margao, Goa. Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 29, 2021. The Office of Registrar of Cooperative Societies, Goa 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 leading to its inabilities in complying with several provisions of the Banking Regulation Act. ....
Goa-based Madgaum Urban Cooperative Bank’s License Cancelled by RBI Moneylife Digital Team 30 July 2021 The Reserve Bank of India (RBI) has cancelled the license of Goa-based Madgaum Urban Cooperative Bank, with effect from 29 July 2021. This bank is latest to add to a long list of badly-run banks whose licenses have been cancelled by the RBI after their poor performance.
The banking regulator said the decision was taken as the Bank does not have adequate capital and earning prospects, and it would be unable to pay its present depositors in full in its present financial position.
“The RBI has, vide order dated 27 July 2021 cancelled the license of The Madgaum Urban Cooperative Bank, Margao, Goa. Consequently, the Bank ceases to carry on banking business, with effect from the close of business on 29 July 2021,” RBI says in a release. ....
RBI cancels licence of Madgaum Urban Co-operative Bank Ltd, Margao indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.