RBI Has Canceled the license of VNS Bank In Maharashtra
RBI has canceled the license of this bank, depositors will be able to withdraw up to five lakh rupees.
The license of Vasantdada Nagari Sahakari Bank located in Osmanabad, Maharashtra has been canceled. The Reserve Bank (RBI) gave this information on Monday.
Regarding the cancellation of the license, the central bank said that the bank will not be able to return the entire money of the present depositors according to its current financial situation.
The license of the co-operative bank will be canceled after the business ends on Monday. After this, the cooperative bank will not be able to operate.
The Reserve Bank said that refund of money of depositors said that with the cancellation of the license of the first cooperative bank and the process of liquidation, the process of returning the money will start.
After liquidation, depositors will be able to withdraw up to five lakh rupees from the Deposit Insurance and Credit Guarantee Corporation.
In this case, more than 99 percent of the cooperative bank’s depositors will be able to withdraw the entire amount.
On the other hand, the RBI has expressed apprehension that the financial health of banks may deteriorate due to the situation arising due to Coronavirus.
Reserve Bank of India (RBI) Governor Shaktikanta Das has expressed apprehension. Das said on Monday that the pandemic could lead to banks’ assets being discounted and lack of capital.
He urged banks to increase their capital base. Das also mentioned the lack of revenue with the government. A few years ago the central bank reviewed the asset quality of the banks.
Significantly, the Reserve Bank gave six months’ deferment for repayment of loans for the convenience of the people in the Corona crisis, which ended in August.
Das said that with the easing of the cash position and better financial condition, the financial parameters of banks have been corrected.
He said that the epidemic has caused damage, further economic growth and livelihood restoration work have to be done.
Gold Rate Today: Gold futures fall, silver also breaks, know the price
The domestic futures market saw a fall in gold and silver prices on Tuesday morning.
On February 5, 2021 futures gold price on the MCX exchange was seen trading at a low of 0.03 percent, or Rs 17, on Tuesday morning at Rs 49,324 per 10 grams.
Apart from this, the futures price of gold on April 5, 2021, was seen trading at Rs 49,305 per 10 grams at this time.
Talking about the global market, on Tuesday morning, the global futures prices of gold declined and global spot prices saw an increase.
