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RBI cancels licence of Goa based Madgaum Urban Co-op Bank Public interest would be adversely affected if the bank continues: RBI In an order dated July 27 th, 2021 the Reserve Bank of India has cancelled the licence of The Madgaum Urban Co-operative Bank Limited, Margao, Goa. Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 29, 2021. The Office of Registrar of Cooperative Societies, Goa has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the ...

Reserve Bank of India has, through and order dated May 28, 2021 cancelled the licence of Shivajirao Bhosale Sahakari Bank Ltd., Pune, Maharas

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Source: Reserve Bank of India Today, the Reserve Bank of India (RBI) has, vide order dated May 10, 2021 cancelled the licence of United Co-operative Bank Ltd., Bagnan, West Bengal. Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 13, 2021. The Registrar of Cooperative Societies, West Bengal has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as: The bank does not have adequate capital and earning prospects. As such, it does not comply...

RBI cancels licence of Bhagyodaya Friends UCB; 98% depositors to get money Continuance of bank prejudicial to interests of depositors: RBI The Reserve Bank of India has cancelled the licence of Bhagyodaya Friends Urban Co-operative Bank Limited, Warud, based in Amravati, Maharashtra. “Consequently, the bank ceases to carry on banking business, with effect from the close of business on April 22, 2021”, reads a RBI release. The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has been requested to issue an order for winding up the bank and appoint a liquidato...