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    Question

    Why did the Reserve Bank of India (RBI) cancel the

    licence of Shankarrao Pujari Nutan Nagari Sahakari Bank Limited?
    A Lack of adherence to Saansad Adarsh Gram Yojana objectives Correct Answer Incorrect Answer
    B Inadequate capital and earning prospects, non-compliance with banking regulations Correct Answer Incorrect Answer
    C Partnership with iVIS for security services Correct Answer Incorrect Answer
    D Approval for SBI Mutual Fund to acquire Karur Vysya Bank Correct Answer Incorrect Answer
    E Opening of new branches by Karur Vysya Bank Correct Answer Incorrect Answer

    Solution

    The RBI cancelled the licence of Shankarrao Pujari Nutan Nagari Sahakari Bank Limited due to inadequate capital, lack of earning prospects, and non-compliance with the provisions of the Banking Regulation Act, 1949.

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