https://www.taxtmi.com/news?id=13509 RBI cancelled the licence of The Baripada Urban Co-operative Bank Ltd. for insolvency and failed revival efforts, requested winding up and liquidator appointment, and initiated liquidation-linked insured repayment under the Deposit Insurance and Credit Guarantee Corporation subject to scheme terms. Statutory inspections had shown negative capital and reserves, negative CRAR, substantial accumulated losses, extremely high NPAs, supervisory directions were issued, and revival proposals were inadequate. Consequent to cancellation the bank is prohibited from carrying on banking business under the Act. en-us Thu, 30 Oct 2014 17:42:42 +0530 Thu, 30 Oct 2014 17:42:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13509 RBI cancelled the licence of The Baripada Urban Co-operative Bank Ltd. for insolvency and failed revival efforts, requested winding up and liquidator appointment, and initiated liquidation-linked insured repayment under the Deposit Insurance and Credit Guarantee Corporation subject to scheme terms. Statutory inspections had shown negative capital and reserves, negative CRAR, substantial accumulated losses, extremely high NPAs, supervisory directions were issued, and revival proposals were inadequate. Consequent to cancellation the bank is prohibited from carrying on banking business under the Act. News - Thu, 30 Oct 2014 17:42:42 +0530 https://www.taxtmi.com/news?id=13509