https://www.taxtmi.com/news?id=11277 The Reserve Bank cancelled the bank's licence due to insolvency, pervasive irregularities and statutory non compliance after inspections, administrative supersession, directions restricting withdrawals and two show cause notices; winding up was requested, liquidation will enable deposit repayment under the Deposit Insurance and Credit Guarantee Corporation scheme, and the bank is prohibited from carrying on banking business including acceptance and repayment of deposits. en-us Wed, 19 Jun 2013 18:55:52 +0530 Wed, 19 Jun 2013 18:55:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=11277 The Reserve Bank cancelled the bank's licence due to insolvency, pervasive irregularities and statutory non compliance after inspections, administrative supersession, directions restricting withdrawals and two show cause notices; winding up was requested, liquidation will enable deposit repayment under the Deposit Insurance and Credit Guarantee Corporation scheme, and the bank is prohibited from carrying on banking business including acceptance and repayment of deposits. News - Wed, 19 Jun 2013 18:55:52 +0530 https://www.taxtmi.com/news?id=11277