The Reserve Bank of India (RBI) has cancelled the licence of Uttar Pradesh-based United India Co-operative Bank Limited, citing lack of adequate capital and earning prospects. The bank will cease to carry on business and every depositor will be entitled to receive deposit insurance claim amount of up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation.from Banking/Finance-Industry-Economic Times https://ift.tt/crzDLAg
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