The RBI has cancelled the licence of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit Bank. The cancellation was due to inadequate capital and lack of earning prospects of the bank.
The RBI has cancelled the licence of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit Bank. The cancellation was due to inadequate capital and lack of earning prospects of the bank.
The RBI has imposed regulatory restrictions on the Mumbai-based Mogaveera Co-operative Bank Ltd for 6 months.
Under these directives, the withdrawal limit is capped at ₹1 lakh for depositors across all accounts, including savings and current accounts.