THIS bank will be shutting down from tomorrow; what will happen to depositor’s money? - NEWS HUB

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Tuesday, September 20, 2022

THIS bank will be shutting down from tomorrow; what will happen to depositor’s money?

On August 10, the RBI had cancelled the licence of Rupee Co-operative Bank Ltd as the lender did not have adequate capital and earning prospects. However, the RBI said that in compliance to an order of the High Court of Bombay, its direction will become effective after six weeks i.e, from August 10 onwards.

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