CURRENT AFFAIRS

Detailed explanation-1: -The Reserve Bank has barred Deccan Urban Co-operative Bank from granting new loans or accepting deposits and customers cannot withdraw more than ₹ 1,000 from their accounts for six months.

Detailed explanation-2: -Press Releases. Today, the Reserve Bank of India (RBI), vide order dated August 17, 2022, has cancelled the licence of “Deccan Urban Co-operative Bank Ltd., Vijayapur, Karnataka”.

Detailed explanation-3: -The banks whose permits have been cancelled by the RBI include Independence Cooperative Bank Limited, Mantha Urban Cooperative Bank Ltd, People’s Cooperative Bank Limited, Mudhol Cooperative Bank Limited, Millath Cooperative Bank Limited and others.

Detailed explanation-4: -“Onboarding of new customers by Paytm Payments Bank Ltd will be subject to specific permission to be granted by RBI after reviewing a report of the IT auditors,” the central bank said. “This action is based on certain material supervisory concerns observed in the bank,” the RBI said.

Detailed explanation-5: -The correct answer is Mastercard. The Reserve Bank of India (RBI) has imposed restrictions on Mastercard Asia/Pacific Pte. Ltd.