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      Question

      RBI cancelled the banking licence of Mumbai-based

      Sarvodaya Co-operative Bank under which sections of the Banking Regulation Act, 1949? 
      A Sections 11(1) and 22(3) Correct Answer Incorrect Answer
      B Sections 22(4) and 56 Correct Answer Incorrect Answer
      C Section 52A Correct Answer Incorrect Answer
      D Sections 101A and 101B Correct Answer Incorrect Answer
      E Sections 35A and 36(1) Correct Answer Incorrect Answer

      Solution

      The RBI cancelled the banking licence of Mumbai-based Sarvodaya Co-operative Bank Limited with effect from 12 May 2026 under Sections 22(4) and 56 of the Banking Regulation Act, 1949. The licence was cancelled due to inadequate capital, weak earning prospects, inability to repay depositors, and non-compliance with capital adequacy requirements.

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