Reserve Bank of India: If you also have an account with the bank, then know that the Reserve Bank is going to close a bank soon.: There is news to report. You should know that RBI is going to close a bank soon if you have an account there. RBI issues several instructions to banks, which everyone should follow. RBI also prepares all kinds of guidelines for banks.
Banks will be closed on 22nd September
RBI has so far canceled the licenses of many banks and financial institutions. Meanwhile, the Reserve Bank has canceled the license of another bank. RBI has decided to close this bank on September 22 i.e. this month.
RBI has canceled the license
The RBI canceled the license of Rupee Co-operative Bank Ltd in August. As a result of RBI’s decision, the banking services of this bank will stop from September 22, which is important news for all customers.
Can you tell why the license has been revoked?
The Reserve Bank has informed the bank that it will close on September 22. After that, customers cannot deposit or withdraw their money. Apart from this you cannot do any kind of financial transaction. The RBI said the bank has insufficient capital and no further earning potential. Because of this, the bank’s license is being cancelled.
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5 lakhs will be given to him
Section 11(1) and 22(3)(d) of the Banking Regulation Act, 1949 as well as Section 56 of the Banking Regulation Act, 1949 are not complied with. The Bank has failed to comply with Sections 22(3)(a), 22(3)(b), 22(3)(c), 22(3)(d) and 22(3)(e). Subject to the provisions of the DICGC Act, 1961, every depositor shall be entitled to a deposit insurance claim up to ₹ 5,00,000 (Rupees Five Lakhs).