Which bank license has been revoked by RBI in March 2022?

A)
Andhra Pragathi Grameena Bank
B)
Karnataka Vikas Grameena Bank
C)
Madgaum Urban Cooperative Bank
D)
People's Co-operative Bank Ltd Kanpur

Correct Answer : Option (D) - People's Co-operative Bank Ltd Kanpur



Reserve Bank of India (RBI), vide order dated March 17, 2022, has cancelled the license of People’s Co-operative Bank Limited, Kanpur, Uttar Pradesh. Consequently, the bank ceases to carry on banking business, with effect from the close of business on March 21, 2022. The Commissioner for Cooperation and Registrar of Cooperative Societies, Uttar Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank..

Source : RBI

Published On : March 24, 2022
Category : Banking