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    Question

    Reserve Bank of India has cancelled the license of Independence Co-operative Bank Ltd. It is based at ________________.

    A Mumbai Correct Answer Incorrect Answer
    B Pune Correct Answer Incorrect Answer
    C Nashik Correct Answer Incorrect Answer
    D Aurangabad Correct Answer Incorrect Answer
    E Thane Correct Answer Incorrect Answer

    Solution

    Reserve Bank of India has cancelled the license of Independence Co-operative Bank Ltd., Nashik, Maharashtra w.e.f February 03, 2022. The major reason for the cancellation of the license by RBI is that bank does not have adequate capital and earning prospects.

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