banking regulation act

The Reserve Bank of India (RBI) on Wednesday cancelled the licence of Rupee Co-operative Bank Ltd in Pune with effect from six weeks from today. According to a press release, the commissioner for cooperation and registrar of Cooperative…

MUMBAI: The Reserve Bankon Friday imposed several restrictions, including a cap on withdrawals for the depositors, on four cooperative banks for six months given their deteriorating financial positions. The banks on which restrictions…

RBI on Thursday said it has cancelled the license of Shri Anand Co-operative Bank, Chinchwad, Pune as the lender does not have adequate capital and cannot pay its present depositors in full. The bank ceases to carry on banking business,…