Suspense Crime Sach Ka Dam
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RBI canceled bank license: The Reserve Bank of India canceled the licenses of several cooperative banks during the financial year ended March 31. If you also have an account in these banks, then you should also know this news. The Reserve Bank has taken strict action against these banks. RBI not only canceled the license of these banks but also imposed heavy penalty on some of them.
RBI imposed 114 penalties on these banks
Recently, for the financial year 2022-23 ending March 31, 2023, eight co-operative banks Licenses were cancelled. The Reserve Bank has fined banks for not following the rules more than 100 times. Banking services have been expanded in rural areas through cooperative banks. But after the disturbances in these banks came to the fore, RBI has taken strict steps.
Allegations of Negligence: These co-operative banks not only
double standards and weak financial policy, but local leaders were also asked to interfere in the business of these co-operative banks. In this background, the Reserve Bank has taken strict action against cooperative banks violating the rules. The licenses of eight banks have been canceled in the last one year. Let us see which banks have been canceled by RBI.
License of these 8 banks canceled:
1. Mudhola Co-Operative Bank
2. Milat Co-Operative Bank
3. Shree Anand Co-Operative Bank
4. Rupee Co-operative Bank
5. Deccan Urban Co-operative Bank
6. Laxmi Co-Operative Bank Bank
7. Service Development Cooperative Bank
8. Babaji Date Mahila Urban Bank
RBI has canceled the license of above banks due to lack of adequate capital, non-compliance of banking regulation norms. The Central Bank has taken this action in the backdrop of the fact that the earning potential in future is also less. Canceled due to shortage. RBI has been monitoring the cooperative banking sector for the past several years. The central bank had canceled the license of 12 cooperative banks in 2021-22, 3 cooperative banks in 2020-21 and two cooperative banks in 2019-20.
