https://www.taxtmi.com/news?id=11852 The Reserve Bank cancelled the licence of The Konkan Prant Sahakari Bank Ltd., Mumbai, due to insolvency, sustained deposit erosion and failed revival efforts after supervisory inspections revealed negative net worth, negative CRAR, high gross NPAs, related party lending, statutory investment shortfalls, deficient credit controls and governance failures. Prior statutory directions had restricted deposit acceptance and lending; following licence cancellation the bank is prohibited from conducting banking business and liquidation will be initiated with insured deposit repayment through the Deposit Insurance scheme. en-us Tue, 15 Oct 2013 14:19:22 +0530 Tue, 15 Oct 2013 14:19:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=11852 The Reserve Bank cancelled the licence of The Konkan Prant Sahakari Bank Ltd., Mumbai, due to insolvency, sustained deposit erosion and failed revival efforts after supervisory inspections revealed negative net worth, negative CRAR, high gross NPAs, related party lending, statutory investment shortfalls, deficient credit controls and governance failures. Prior statutory directions had restricted deposit acceptance and lending; following licence cancellation the bank is prohibited from conducting banking business and liquidation will be initiated with insured deposit repayment through the Deposit Insurance scheme. News - Tue, 15 Oct 2013 14:19:22 +0530 https://www.taxtmi.com/news?id=11852