Question
The Reserve Bank of India (RBI) has revoked the banking
license of “Urban Co-operative Bank Limited due to severe financial irregularities and non-compliance with banking regulations.Where are the headquarters of this bank ?ÂSolution
The Reserve Bank of India (RBI) has revoked the banking licence of “Urban Co-operative Bank Limited, Sitapur, Uttar Pradesh" with immediate effect. The decision comes as a response to severe financial irregularities and non-compliance with banking regulations. With the immediate cancellation of its licence, Urban Co-operative Bank is now prohibited from conducting any banking activities, including accepting and repaying deposits.
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