NEWS & ADVICE : SAVINGS ACCOUNTS
RBI penalized cooperative bank
By Vaibhav Aggarwal
Feb 21, 2014
Print    Email    RSS   

Yesterday the Apex bank of the country Reserve bank Of India penalized two urban cooperative banks and further the bank has also cancelled the banking license of municipal coop bank. For not following the rules and regulations bank charged a penalty of Rs 5 lakh from Ahmedabad-based Mahila Vikas Co-operative Bank Ltd and Maharashtra-based Amravati Zilla Mahila Sahakari Bank Ltd.

The bank has requested the Registrar of Co-operative Societies (RCS), Gujarat to ask the Municipal coop bank to close the bank and appoint a liquidator for the bank. On liquidation from the Deposit Insurance and Credit Guarantee Corporation every depositor will provided with a repayment of Rs 1 lakh.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
12 point conduct checklist for bank and...
How to check balance in savings bank account
Carnival of Indian Personal Finance Blogs #6
Carnival of Indian Personal Finance Blogs #4
Savings account portability: How...


To, Syndicate Bank I want my account statement my...
30717241649 which sbi branch's account number?
460302010007425
How to find the canara bank ifsc code?
Sir my name is ronie fuentes i want to change my old...
How can i change my account mobile number

NEWS THIS WEEK
HDFC bank adjudged as the Best private bank in India Feb 16, 2015
HDFC reported an increase of 20% in its net profit Feb 16, 2015
ICICI bank launched Flash remit facility Feb 13, 2015
BOM launched new savings deposit scheme for HNI customers Feb 12, 2015
BMB bank to have a total of 80 branches by the March end. Feb 10, 2015
News Archive