HC upholds cancellation of licence of CKP Co-operative Bank by RBI due to its adverse financial position

FEMA, BANKING amp; INSURANCE : Where RBI on pointing out that CKP Bank was not maintaining required CRAR, there were large number of irregularities on part of CKP Bank in conducting its affairs thereby causing tremendous financial loss to depositors, erosion of assets including depositors and that said CKP Bank did not have adequate assets to meet its liabilities requested

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