Cancellation of Banking Licence - The Bhopal Nagrik Sahakari Bank Ltd., Bhopal - ആർബിഐ - Reserve Bank of India
Cancellation of Banking Licence - The Bhopal Nagrik Sahakari Bank Ltd., Bhopal
The Reserve Bank of India (RBI) has, vide order dated January 17, 2018 cancelled the licence of The Bhopal Nagrik Sahakari Bank Ltd, Bhopal, Madhya Pradesh to carry on banking business, with effect from the close of business on January 22, 2018. The Registrar of Co-operative Societies, Madhya Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as:
Consequent to the cancellation of its licence, The Bhopal Nagrik Sahakari Bank Ltd, Bhopal, Madhya Pradesh is prohibited from conducting the business of ‘banking’ which includes acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect. With the cancellation of licence and commencement of liquidation proceedings, the process of paying the depositors of The Bhopal Nagrik Sahakari Bank Ltd, Bhopal, Madhya Pradesh as per the DICGC Act, 1961 will be set in motion. On liquidation, every depositor is entitled to repayment of his/her deposits up to a monetary ceiling of ₹ 1,00,000/- (Rupees One lakh only) from the Deposit Insurance and Credit Guarantee Corporation (DICGC) as per usual terms and conditions. Ajit Prasad Press Release : 2017-2018/2010 |