Correct Answer : Option (D) - Pune
Reserve Bank of India (RBI) on Monday(10th Oct 2022) cancelled the license of Pune based Seva Vikas Co-operative Bank as the urban cooperative bank lacked adequate capital and earning prospects.
The bank ceases to carry on banking business, with effect from the close of business on October 10, 2022, RBI said in a statement.
Earlier in August 2022 , it had cancelled the license of Pune-based Rupee Cooperative Bank. RBI action is facing legal challenge in Bombay High Court.
According to the the data submitted by the bank, about 99 per cent of the depositors are entitled to receive the full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC). As on September 14, 2022, DICGC has already paid Rs 152.36 crore of the total insured deposits.
This payment is made in compliance with the provisions of the DICGC Act, 1961
based on the willingness received from the concerned depositors of the bank..Source : Business Standard