Reserve Bank of India: If you also have an account in the bank, then know that the Reserve Bank has closed another bank today. RBI has given information about this by issuing a notification. Know what will happen to customers’ money now-
RBI Canceled Bank License: There is important news for those who have an account in the bank. The Reserve Bank has ordered the closure of another bank. If you also have an account in this bank, then know what will happen to your money now. Information about this has been given by issuing a notification from RBI.
Bank business closed from today
Let us tell you that the Reserve Bank of India has canceled the license of another bank. This time RBI has canceled the license of Seva Vikas Co-operative Bank based in Pune. RBI has said that the services of the bank will stop from today i.e. from October 10 itself.
Bank does not have enough capital
Let us tell you that all the customers whose account is in this bank, they will not be able to take advantage of its services after October 10. Today the bank will have to close its banking business. According to the notification issued by RBI, the bank does not have sufficient capital and neither has the prospects of earning further.
According to RBI, several reasons have been given behind the cancellation of the license of Seva Vikas Sahakari Bank. Let’s know what are the special reasons-
>> The bank does not have sufficient capital and earning potential. Also does not comply with the provisions of Section 11(1) and Section 22(3)(d) read with Section 56 of the Banking Regulation Act, 1949.
>> The bank will also comply with the rules of section 22(3)(a), 22(3)(b), 22(3)(c), 22(3)(d) and 22(3)(e). is not able.
>> Apart from this, RBI has said that the continuance of the bank is not in the interest of the depositors. In the event of insufficient capital, if the bank gets permission to take it forward, then in such a situation, a wrong effect will be seen in the public interest.
All these facilities closed
According to the information received from the Reserve Bank, permission has been given to Sewa Vikas Sahakari Bank Limited, Pune, Maharashtra to stop banking business with immediate effect. It includes all the facilities from accepting deposits to making payment of deposits.
What will happen to customers’ money?
If we talk about the money of the customers, then according to the press release, each customer can claim an amount up to 5,00,000/- from deposit insurance and credit. The customers will get this money under the provisions of the DICGC Act, 1961.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
