https://www.taxtmi.com/news?id=11866 The Reserve Bank cancelled the licence of Vishwakarma Nagari Sahakari Bank Maryadit, Aurangabad, after successive statutory inspections under Section 35 and directions under Section 35A revealed insolvency, sustained defaults in CRR/SLR and CRAR, large and increasing NPAs, managerial and KYC/AML deficiencies, incorrect liability computation and regulatory breaches. The cancellation followed a show cause notice under Section 22 and triggers winding up, prohibition on carrying on banking business and initiation of insured deposit payments under the DICGC scheme subject to its terms. en-us Tue, 22 Oct 2013 14:03:34 +0530 Tue, 22 Oct 2013 14:03:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=11866 The Reserve Bank cancelled the licence of Vishwakarma Nagari Sahakari Bank Maryadit, Aurangabad, after successive statutory inspections under Section 35 and directions under Section 35A revealed insolvency, sustained defaults in CRR/SLR and CRAR, large and increasing NPAs, managerial and KYC/AML deficiencies, incorrect liability computation and regulatory breaches. The cancellation followed a show cause notice under Section 22 and triggers winding up, prohibition on carrying on banking business and initiation of insured deposit payments under the DICGC scheme subject to its terms. News - Tue, 22 Oct 2013 14:03:34 +0530 https://www.taxtmi.com/news?id=11866