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Article: RBI CANCELS DHANSURA PEOPLE'S CO-OPERATIVE BANK'S LICENCE
- Article from:
- The Hindustan Times
- Article date:
- February 16, 2006
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MUMBAI, India, Feb. 16 -- The Reserve Bank of India (RBI) issued following press release:
In view of the fact that the Dhansura People's Co-operative Bank Ltd., Dhansura Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on February 15, 2006. The registrar of co-operative societies, Gujarat has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. It may be highlighted that on liquidation every ...