02 May 2020, 05:26 pm By Neha Sinha
Amid Lockdown RBI Cancels this Bank's license in Maharashtra

RBI Cancels Licence of CKP-Bank, Depositors, Account Holders of the Oldest Co-Op Bank in Mumbai, Fear and panic gripped customers of CKP Co-operative Bank in Mumbai after the Reserve Bank of India (RBI) canceled the bank's license over bad financial health and growing debt. Due to which the government has extended the lockdown till May 17. Despite this, this virus has not stopped. Every day thousands of patients are increasing in India. Hundreds of people are giving their lives. Corona has shaken the entire economy. The government is constantly taking steps to avoid this epidemic. Meanwhile, the big news is coming.

RBI Cancels this Bank's license

For information, the big news of this time to the customers of a bank. The Reserve Bank of India has given a big blow to the customers of a bank. In a major setback, the Reserve Bank has canceled the license of a bank. Yes, if you also have an account with this bank, then there can be a big problem for you as well. Because now you may have to face problems regarding your money. Owing to the current crisis, over 11,000 depositors-investors and close to 1.25 lakh account holders will have to brace for trouble.

Amid Lockdown RBI Cancels this Bank's license

According to Moneycontrol, the Reserve Bank has canceled the license of this bank, giving shock to the customers of CKP co-operative bank. Because of which a big crisis has arisen on the bank's account holders. Not only this, but the bank's FD of 485 crores is also hanging in the balance. RBI has been continuously extending the ban period on the bank since 2014. Earlier, the period of 31 March was extended to 31 May, but RBI canceled the license of the bank before that.

Significantly, since the BJP government came to power at the Center, the Modi government has taken one big step after another about banks and has also run various schemes for the benefit of the public. At the same time, the government recently merged several banks and formed 4 big banks.

Read Also: Maharashtra Full list of state Red Orange and Green Zone