RBI Cancels Bank Licenses - Impact on Customers of the Affected Banks

Tue, 21 Feb 2023 13:40:13 +0000

Summary: The Reserve Bank of India (RBI) recently announced the cancellation of the licenses of two banks - The Karad Janata Sahakari Bank in Maharashtra and The Mapusa Urban Co-operative Bank in Goa. The decision was made due to concerns over the banks' financial health and the inability to meet regulatory requirements. This blog will discuss the impact of this news on the customers of the affected banks, as well as the advantages and disadvantages of banking with smaller cooperative banks.