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RBI may tighten grip on cooperative banks, say experts moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
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 ....
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. ....