2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Dehradun
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Kochi
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Pune
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Lucknow
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Detailed explanation-1: -In a statement, RBI said the Lucknow-based co-operative bank will not, without its prior approval, grant or renew any loans and advances, or make any investment.
Detailed explanation-2: -As part of the restrictions, the two cooperative banks cannot grant loans, make any investment, incur any liability – including borrowal of funds and acceptance of fresh deposits, disburse or dispose of properties or assets.
Detailed explanation-3: -For the National Urban Co-operative Bank, the withdrawal limit has been set at Rs 10,000 per customer.
Detailed explanation-4: -The Bank’s Head Office is situated at Lucknow.
Detailed explanation-5: -Though the Banking Regulation Act came in to force in 1949, the banking laws were made applicable to cooperative societies only in 1966 through an amendment to the Banking Regulation Act, 1949.