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Today General Knowledge(GK)
Which bank license has been cancelled by RBI in Feb 2022?
A)
Kerala Gramin Bank (Kochi)
B)
Allahabad Bank (Delhi)
C)
Punjab National Bank (Haridwar)
D)
Co-operative Bank (Nashik)

Correct Answer : Option (D) - Co-operative Bank, Nashik



The licence of Independence Co-operative Bank, Nashik has been cancelled as it does not have adequate capital and earning prospects, the RBI said on Thursday(February 3, 2022). Independence Co-operative Bank has ceased to carry on banking business with effect from the close of business hours on February 3, 2022 (Thursday), the RBI said in a statement. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a ceiling of Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
 
As per the data submitted by the bank, more than 99 percent of the depositors are entitled to receive full amount of their deposits from DICGC. The RBI said the bank has failed to comply with the requirements the Banking Regulation Act, 1949.

Source : Financial Express

Published On : February 4, 2022
Category : Banking
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