Question
Where was the Urban Co-operative Bank (UCB) situated,
whose license was cancelled by the Reserve Bank of India (RBI) in Dec 2023?Solution
The Reserve Bank of India (RBI) has cancelled the licence of Urban Co-operative Bank (UCB), Sitapur, Uttar Pradesh. RBI said the bank ceases to carry on banking business, with effect from the close of business on December 07, 2023.
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