RBI cancels license of Vijayawada-based Durga Co-op Urban Bank
The Reserve Bank of India has canceled the license of The Durga Co-operative Urban Bank, based in Vijayawada, due to inadequate capital and earning prospects. The bank will cease operations on November 12, 2024. Depositors will receive insurance claims up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
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