https://www.taxtmi.com/news?id=12555 The Reserve Bank of India cancelled the licence of The Urban Co operative Bank Ltd., Bhubaneswar after statutory inspections and supervisory directions found the bank insolvent, non compliant with Banking Regulation Act provisions and unable to meet depositor obligations; repeated show cause notices, failed merger attempts and an unrealistic revival plan led to prohibition from carrying on banking business and initiation of liquidation with deposit insurance entitlement under the Deposit Insurance Scheme. en-us Tue, 11 Mar 2014 09:33:37 +0530 Tue, 11 Mar 2014 09:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=12555 The Reserve Bank of India cancelled the licence of The Urban Co operative Bank Ltd., Bhubaneswar after statutory inspections and supervisory directions found the bank insolvent, non compliant with Banking Regulation Act provisions and unable to meet depositor obligations; repeated show cause notices, failed merger attempts and an unrealistic revival plan led to prohibition from carrying on banking business and initiation of liquidation with deposit insurance entitlement under the Deposit Insurance Scheme. News - Tue, 11 Mar 2014 09:33:37 +0530 https://www.taxtmi.com/news?id=12555