RBI has cancelled licence of 7 co-operative banks since Jan

RBI has cancelled licence of 7 co-operative banks since Jan

Daily Current Affairs / RBI has cancelled licence of 7 co-operative banks since Jan

Change Language English Hindi

Category : Business and economics Published on: July 09 2024

Share on facebook

RBI has cancelled the licences of several co-operative banks since January 2024, including Sumerpur Mercantile Urban Cooperative Bank, Jai Prakash Narayan Nagari Sahakari Bank, Shree Mahalaxmi Mercantile Co-operative Bank, and Hiriyur Urban Co-operative Bank, due to their deteriorating financial health.
In June 2024, licences of Mumbai’s City Co-operative Bank and Purvanchal Co-operative Bank in Ghazipur, Uttar Pradesh, were revoked for inadequate capital and earning prospects.
Banaras Mercantile Co-operative Bank has ceased its banking operations as of July 4, 2024, with the RBI directing Uttar Pradesh's Cooperative Societies Commissioner to initiate the winding-up process and appoint a liquidator.

Recent Post's

ONGC will invest ₹4,600 crore in Andhra Pradesh’s KG Basin for drilling, offshore platforms, pipeline, and gas processing.
Read More....
India’s defence production reached a record ₹1.51 lakh crore in FY 2024-25, up 18% from last year.
Read More....
China and Hong Kong won the Asia Rugby U-20 Sevens titles, while India’s women claimed bronze in Bihar.
Read More....
DPIIT signed an MoU with Zepto to support manufacturing startups under the Zepto Nova Innovation Challenge.
Read More....
Indian Navy will commission stealth frigates INS Udaygiri and INS Himgiri together for the first time on 26 August 2025.
Read More....
Lok Sabha passed the revised Income Tax Bill 2025, expanding officials’ powers for search operations.
Read More....
Kerala’s KSFE became the first miscellaneous NBFC in India to cross ₹1 lakh crore turnover.
Read More....
WHO confirmed Kenya has eliminated sleeping sickness as a public health problem.
Read More....
Aadhaar Face Authentication transactions doubled from 100 crore to 200 crore in just six months.
Read More....
Tata’s Nelco and France’s Eutelsat will provide OneWeb satellite internet services in India.
Read More....