CURRENT AFFAIRS

2023

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Reserve Bank of India (RBI) has cancelled the license of the CKP Cooperative Bank Ltd. Where is the bank headquartered at?

A	Mumbai
B	Varanasi
C	Chennai
D	Chandigarh

Explanation:

Detailed explanation-1: -The bank with its present financial position would be unable to pay its present depositors in full; and. Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.

Detailed explanation-2: -The Reserve Bank cancelled the licence of the bank as: The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.

Detailed explanation-3: -The companies whose certification has been cancelled are SRM Properties And Finance Company (Rajasthan), North East Region Finservices Limited (Manipur), Sowjenvee Finance Limited (Karnataka) and Opel Finance Limited (Patna).

There is 1 question to complete.