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RBI may tighten grip on cooperative banks, say experts

RBI may tighten grip on cooperative banks, say experts
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Crisis-ridden cooperative banks continue to face RBI's ire, 8 lose license in FY23

Reasons for license cancellation varied from inadequate capital to failure to comply with legal regulations under the Banking Regulation Act and lack of earning prospects in the future. In fiscal 2023, the Reserve Bank of India (RBI) cancelled licenses of eight cooperative banks and imposed monetary penalties for 114 times ....

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MC Explains | Unclaimed deposits in banks fall to Rs 35,000 crore. What does it mean?

An unclaimed deposit is one which does not see any activity like infusion of funds, withdrawal, etc. from the depositor for 10 years or more, and is deemed as an inactive deposit. ....

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