RBI Shut Down Six Urban Co-operative Banks
RBI Shut Down Six Urban Co-operative Banks [Full Episode]
Reserve Bank of India (RBI) has shut down six Urban Co-operatives Bank (UCBs) on September14, 2014 for paving route to illegal money. It was found that UCBs with 8100-plus branches and deposits of 2 lakh thousand crore rupees were being used as passage for money laundering. The matter of misuse of UCBs was discussed during a recent meeting of the Economic Intelligence Council (EIC) headed by finance minister, Arun Jaitley.
