RBI cancels CKP Co-operative Bank's licence; depositors to get up to Rs 5 lakh

RBI reasoned that the financial position of the bank is highly adverse and unsustainable. There is no concrete revival plan or proposal for merger with another bank. Credible commitment towards revival from the management is not visible, observed the central bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/2KPxUWd