RBI Cancels Purvanchal Cooperative Bank’s Licence Financial Insufficiency and Regulatory Action The Reserve Bank of India (RBI) has revoked the licence of Purvanchal Co-operative Bank, situated in Ghazipur, Uttar Pradesh. The decision stems from the bank’s failure to maintain sufficient capital and sustainable earnings. This financial inadequacy led the RBI to take regulatory action to…
RBI Announces Revised Eligibility Norms for Urban Co-operative Banks (UCBs): Inclusion in Second Schedule The Reserve Bank of India (RBI) has recently declared revised eligibility norms for Urban Co-operative Banks (UCBs), paving the way for their inclusion in the Second Schedule. This significant move holds paramount importance for aspirants preparing for government exams, especially those…
RBI Appoints P. Vasudevan as New Executive Director In a recent development, the Reserve Bank of India (RBI) has appointed P. Vasudevan as its new Executive Director. This significant move comes as part of the central bank’s efforts to strengthen its leadership team and ensure smooth functioning in the ever-evolving financial landscape. With his extensive…
RBI Grants Non-Banking Institution License to Mahalaxmi Cooperative Bank, Cancels Banking Permit The Reserve Bank of India (RBI) recently made a significant decision regarding Mahalaxmi Cooperative Bank. In a move to address the bank’s financial stability and ensure the smooth functioning of the cooperative banking sector, the RBI granted a non-banking institution license to Mahalaxmi…
Government Approves Digital Communication Framework between Banks and CEIB In a significant move towards strengthening communication channels between banks and the Central Economic Intelligence Bureau (CEIB), the government has recently approved a digital communication framework. This step aims to enhance information exchange and combat financial fraud effectively. The framework will streamline the process of sharing…
