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Q:

Which cooperative bank's license was recently cancelled by the Reserve Bank of India?

  • 1
    Gorakhpur District Cooperative Bank
  • 2
    Purvanchal Cooperative Bank
  • 3
    Meerut District Cooperative Bank
  • 4
    Kanpur District Cooperative Bank
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Answer : 2. "Purvanchal Cooperative Bank"
Explanation :

The Reserve Bank of India has canceled the license of Purvanchal Cooperative Bank located in Ghazipur, Uttar Pradesh as it does not have sufficient capital and earning prospects. Also, RBI said that according to the data submitted by Purvanchal Cooperative Bank, about 99.51 percent of the depositors are entitled to receive the full amount of their deposits from DICGC.

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