RBI has canceled the license of which of the following co-operative bank?
A) Laxmi Cooperative Bank
B) Saraswat Cooperative Bank
C) Bharat Cooperative Bank
D) Janata Cooperative Bank
Answer : A
Description :
The Reserve Bank of India has canceled the license of Maharashtra-based Laxmi Co-operative Bank. The reason is a lack of adequate capital. Upon the liquidation of the bank, every depositor will be entitled to receive a deposit insurance claim amounting up to Rs. 5 lakh.
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