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The Reserve Bank of India Cancels the Licence of __________ in Alwar.
  • a)
    Punjab National Bank
  • b)
    Bharatiya Mahila Bank Limited
  • c)
    Oriental Bank Of Commerce
  • d)
    Urban Co-operative Bank
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
The Reserve Bank of India Cancels the Licence of __________ in Alwar.a...
The Reserve Bank of India has announced that the licence of Alwar Urban Co-operative Bank in Alwar, Rajasthan has been cancelled as it is not in a position to pay its depositors in full as and when their claims accrue, among other reasons. The reasons for the cancellation of the licence were, the bank does not have adequate capital and earning prospects, and hence does not comply with the relevant provisions of the Banking Regulation Act, 1949.
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The Reserve Bank of India Cancels the Licence of __________ in Alwar.a)Punjab National Bankb)Bharatiya Mahila Bank Limitedc)Oriental Bank Of Commerced)Urban Co-operative BankCorrect answer is option 'D'. Can you explain this answer?
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