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Karnala Nagari Sahakari Bank s License Cancelled by RBI

The Reserve Bank of India (RBI) has cancelled licence of Panvel-based Karnala Nagari Sahakari Bank as the bank does not have adequate capital and earning prospects. RBI says 95% of depositors of the bank will receive full amounts of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC).

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