RBI Cancelled New Bank Licence

RBI Not Satisfied with this bank, This bank voilate 5 Rules

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Reserve Bank of India cancels the licence of Deccan Urban Co-operative Bank Ltd., Vijayapur, Karnataka

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Reason 1 - The bank does not have adequate capital and earning prospects.

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Reason 2 - The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e)

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Reason 3 - 1. The continuance of the bank is prejudicial to the interests of its depositors;

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Reason 4 -The bank with its present financial position would be unable to pay its present depositors

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Reason 5 -1. Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.

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