RBI canceled the license of this bank, know what will happen next?

Recently, the license of another bank was canceled by the RBI a few days ago, and once again another cooperative bank has suffered a major setback. In fact, for your information, let us tell you that the Reserve Bank of India (RBI) has issued a notification for The Seva Vikas Co-operative Bank Ltd., Pune,

Maharashtra. (Seva Vikas Co-operative Bank) the license has been canceled. RBI has said that the bank does not have sufficient capital nor does it have any earning prospects, so its license is being canceled!

Bank New Update This is a big update for those who have an account open in this bank, the Reserve Bank said that the Service Development Co-operative Bank has been stopped from the banking business. Among other things, the bank will neither be able to accept deposits nor make payments of deposits with immediate effect.

Sewa Vikas Co-Operative Bank closed on this day

Bank New Update Before canceling the license of Sewa Vikas Cooperative Bank, the Reserve Bank of India said that the Reserve Bank in a statement on Monday said that the bank neither has sufficient capital nor income prospects during the business hours of October 10. After the cooperative bank, the

bank will not be able to do business. The central bank said that the bank is not able to pay the full amount of the existing depositors in its current financial situation, in such a situation, the customers of these banks have suffered a huge setback, so what to do next, information is available further.

Even if the bank sinks, up to Rs 5 lakh is safe

You will be very happy to know that for your information, let us tell you that under the DICGC Insurance Scheme, the amount deposited in banks is insured up to Rs 5 lakh. Because of this, in the event of the bank becoming insolvent or the cancellation of its license, the customers are not at risk of

losing such a deposit amount. DICGC, a wholly owned subsidiary of Reserve Bank of India, offers insurance cover up to Rs 5 lakh on bank deposits Bank New Update!

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