RBI: Big setback, this bank will be closed from September 22, now customers will not be able to withdraw their money, know the reason

Newz Fast, New Delhi: Let us tell you that till now the licenses of many banks and financial institutions have been canceled by RBI. At the same time, now the Reserve Bank has decided to cancel the license of another bank.

There is good news for crores of bank customers. If you also have an account in this bank, then know that RBI is going to close a bank soon. Many folding instructions are issued by the Reserve Bank. Everyone has to follow these instructions.

Bank will be closed on 22nd September
Let us tell you that till now the licenses of many banks and financial institutions have been canceled by RBI. At the same time, now the Reserve Bank has decided to cancel the license of another bank.

After this decision of RBI, this bank will be closed from 22 September i.e. from this month.

RBI canceled license
In August, the RBI had decided to cancel the license of Pune-based Rupee Co-operative Bank Limited.

Let us tell you that after the decision of RBI, the banking services of this bank will be closed from September 22, this is important news for all the customers whose money is in this bank.

Why was the license cancelled?
The Reserve Bank has said that the bank will close its business on September 22. After this, customers will neither be able to deposit nor withdraw their money. Apart from this, you will not be able to do any kind of financial transaction.
RBI said that the bank does not have sufficient capital and further earning potential. For this reason the license of this bank is being cancelled.

Will get 5 lakh rupees
It does not comply with the provisions of Section 11(1) and Section 22(3)(d) of the Banking Regulation Act, 1949 as well as Section 56 of the Banking Regulation Act, 1949, as per the rules of the Reserve Bank.

The bank has failed to comply with sections 22(3)(a), 22(3)(b), 22(3)(c), 22(3)(d) and 22(3)(e). Subject to the provisions of the DICGC Act, 1961, each of the depositors shall be entitled to receive a deposit insurance claim amount up to ₹ 5,00,000 (Rupees five lakhs).