February 7, 2024 9:19 AM
RBI cancels license of Jai Prakash Narayan Nagari Sahakari Bank based in Basmathnagar, Maharashtra.
<span style="color: #222222;">Reserve Bank of India has canceled the license of Jai Prakash Narayan Nagari Sahakari Bank based in Basmathnagar, Maharashtra. RBI has requested the Commissioner for Cooperation and Registrar of Cooperative Societies to issue an order for winding up the operations and appoint a liquidator for the bank. Citing the reasons for this action, RBI said the bank did not have adequate capital and earning prospects. It added that allowing the bank to continue...