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    Question

    The Reserve Bank of India (RBI) has revoked the banking

    license of “Urban Co-operative Bank Limited due to  severe financial irregularities and non-compliance with banking regulations.Where are the headquarters of this bank ? 
    A Uttar Pradesh Correct Answer Incorrect Answer
    B Tamil Nadu Correct Answer Incorrect Answer
    C Maharashtra Correct Answer Incorrect Answer
    D Kerala Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) has revoked the banking licence of “Urban Co-operative Bank Limited, Sitapur, Uttar Pradesh" with immediate effect. The decision comes as a response to severe financial irregularities and non-compliance with banking regulations. With the immediate cancellation of its licence, Urban Co-operative Bank is now prohibited from conducting any banking activities, including accepting and repaying deposits.

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