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PeopleTalky Jun 20, 2024

Reserve Bank of India (RBI) Revokes Lucknow Urban Co-operative Bank License: Reasons and Implications

#peopletalky #banking #RBI #Revokes #urbanbank #economics

https://peopletalky.com/2024/06/20/reserve-bank-of-india-rbi-revokes-lucknow-urban-co-operative-bank-license-reasons-and-implications/

Reserve Bank of India (RBI) Revokes Lucknow Urban Co-operative Bank License: Reasons and Implications

Lucknow Urban Co-Operative: The Reserve Bank of India (RBI) has recently canceled the banking license of Lucknow-based Lucknow Urban Co-operative Bank. This step has been taken due to the lack of capital and negative earning capacity of the bank. Due to the poor performance and violation of rules by the bank, RBI had to take this tough decision.

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