West Bengal-based United Cooperative Bank's licence cancelled by the RBI
Fri, May 14, 2021 9:01 AM

West Bengal-based United Cooperative Bank's licence cancelled by the RBI

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The RBI on Thursday cancelled the licence of United Co-operative Bank, Bagnan, West Bengal, as it does not have adequate capital and earning prospects. Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 13, 2021. RBI also requested the Registrar of Cooperative Societies, WB to issue an order for winding up the bank and appoint a liquidator.

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