RBI cancels licence of Jalandhar bank
The Reserve Bank of India on Friday said it has cancelled the licence of Jalandhar-based Imperial Urban Co-operative Bank as the lender does not have adequate capital and earning prospects. The Registrar of Cooperative Societies, Punjab, has also been requested...
Mumbai, Updated At : 03:40 AM Apr 26, 2025 IST
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The Reserve Bank of India on Friday said it has cancelled the licence of Jalandhar-based Imperial Urban Co-operative Bank as the lender does not have adequate capital and earning prospects.
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The Registrar of Cooperative Societies, Punjab, has also been requested to issue an order for winding up of the bank and appoint a liquidator for the bank. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC).
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