THE Reserve Bank of India has permitted the Registrar of Co-operative Societies, Gujarat, to wind up two urban co-operative banks due to their weak finances.
Considering their irretrievable condition and other relevant factors, RBI granted the Registrar permission to close Visnagar Nagarik Sahakari Bank Ltd, Visnagar, and Charotar Nagarik Sahakari Bank Ltd, Anand.
The banks are now barred from accepting deposits.
? Hindustan Times,Â India
EU attacks co-op