⚡ Rakhi Special - Flat 52% off on All Courses from 6 to 10 Aug! ⚡ Enroll Now

    Question

    Which cooperative bank's license was recently revoked by

    the Reserve Bank of India due to insufficient capital and earnings prospects, leading to its closure in July 2024?
    A Abhyudaya Cooperative Bank Correct Answer Incorrect Answer
    B Kangra Co-operative Bank Correct Answer Incorrect Answer
    C Uravakonda Cooperative Town Bank Correct Answer Incorrect Answer
    D Rajdhani Nagar Sahkari Bank Correct Answer Incorrect Answer
    E Yashwant Cooperative Bank Correct Answer Incorrect Answer

    Solution

    The RBI cancelled the license of Uravakonda Cooperative Town Bank, citing inadequate capital and earning prospects. This decision required the bank to cease operations effectively, ensuring depositor protection through the DICGC.

    Practice Next
    More MCQs for RBI Grade B Questions

    Relevant for Exams:

    ask-question