23rd JULY 2025 ENGLISH TNPSC CURRENT AFFAIRS PDF TNPSC SHOUTERS
Karwar Cooperative Bank License Cancelled – Reserve Bank
- The Reserve Bank of India (RBI) today said it has cancelled the license of The Karwar Urban Cooperative Bank in Karnataka due to lack of sufficient capital and earning potential.
- As a result, the bank has ceased to carry on business with effect from the close of business today (July 23).
- Upon liquidation, every depositor will be entitled to receive deposit insurance claim amount from the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to a monetary ceiling of Rs 5 lakh.
- As per the data submitted by the bank, 92.9 per cent depositors will be entitled to receive the full amount of their deposits from the DICGC, the Reserve Bank said. As on June 30, 2025, the DICGC has already paid Rs 37.79 crore of the total insured deposits.
