RBI cancels licence of The Laxmi Co-operative Bank | Daily Current Affairs Dose

RBI cancels licence of The Laxmi Co-operative Bank | Daily Current Affairs Dose

Dear Aspirants, EducationBro is here with a Daily Current Affairs Dose. In this session, we will make the candidates aware of the daily current affairs topics, which will improve their general awareness, while also taking care that the candidates should not have any shortage of trending current affairs related to any country and abroad. Today’s Current Affairs topic is RBI cancels licence of The Laxmi Co-operative Bank.

Our Daily Current Affairs Dose 2022 will help you to crack the General Awareness section of Banking Insurance SSC Railway UPSC and all government jobs exams.

RBI cancels licence of The Laxmi Co-operative Bank | Daily Current Affairs Dose

RBI cancels licence of The Laxmi Co-operative Bank: The Reserve Bank of India (RBI) has cancelled the licence of “The Laxmi Co-operative Bank Limited, Solapur, Maharashtra”.

Read Also: RBI cancels the licence of Karnala Nagari Sahakari Bank Ltd. Panvel 

Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 22, 2022

Read Also: RBI cancels the licence of The Madgaum Urban Cooperative Bank Ltd. 

The Reserve Bank of India (RBI) cancelled the licence of The Laxmi Co-operative Bank as:

• The bank does not have adequate capital and earning prospects.
• The continuance of the bank is prejudicial to the interests of its depositors;
• The bank with its present financial position would be unable to pay its present depositors in full.
• Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.

Important facts for upcoming exams from the above Current Affairs Topic

• Establishment of Reserve Bank of India (RBI): 1 April 1935
• Headquarters of RBI: Mumbai, Maharashtra, India
• Governor of RBI: Shaktikanta Das
• Deputy Governor of RBI: Mahesh Kumar Jain, Dr. M. D. Patra, M. Rajeshwar Rao and T. Rabi Sankar
• Ownership of RBI: Ministry of Finance , Government of India

Current Policy Rates

• Policy Repo Rate: 5.40%
• Reverse Repo Rate: 5.15%
• Marginal Standing Facility Rate: 5.65%
• Bank Rate: 5.65%

Current Reserve Ratio

• CRR: 4.50%
• SLR: 18.00%